Pennsylvania Municipal Retirement System, Harrisburg, hired Waddell & Reed Asset Management Group to run $50 million in active international all-cap growth equities, according to James Allen, board secretary. The $1 billion system funded the portfolio by reducing a passive international EAFE account managed by State Street Global Advisors, leaving it with $30 million. System officials decided to shift more of its international investments into active management.
Dahab Associates assisted.
