New Orleans City Employees Retirement System selected six finalists in its search for an active international equity manager. They are: incumbent State Street Global; Putnam; Dresdner RCM; US Trust; Waddell & Reed; and Templeton. The $367 million plan has not decided if it will hire one or two managers to handle the portfolio, which will not exceed the systems 10% international equity allocation, said Jerry Davis, chairman of the board of trustees. Funding will come from State Street Global, which handles a $13 million passively managed international equity portfolio.
Watson Wyatt is assisting.