Massachusetts Pension Reserves Investment Management Board, Boston...

Massachusetts Pension Reserves Investment Management Board, Boston, will search within the next few weeks for an active small-cap emerging markets equity manager to run up to $500 million, said Jerry Mitchell, chief investment officer of the $29 billion system. Funding will come from reducing the portfolios of the system’s existing emerging market managers, Capital Guardian, Emerging Markets Management and Schroder Capital, Mr. Mitchell said. A majority of MassPRIM’s $1 billion emerging markets equity assets are in large-cap portfolios.