Falmouth (Mass.) Contributory Retirement System hired Denver Investment Advisors to manage $3.25 million in an active international small-cap equity commingled fund benchmarked to the MSCI EAFE Small-Cap Index, and INVESCO to manage $3.25 million in an active international equity commingled fund benchmarked to the MSCI EAFE index. The $50 million pension plan funded the hirings by terminating State Street Global Advisors for performance; it ran the money in its International Growth Opportunities fund, confirmed Margeret Correllus, plan administrator and board member. Erin Heggerick, SSgA spokeswoman, declined comment.
Wainwright Investment Counsel advised.