Brockton (Mass.) Contributory Retirement System hired Boston Co. Asset Management to run $5 million in an active commingled emerging markets equity fund, said Harold P. Hanna, executive director. Funding will come from the city's annual appropriation, he said. Boston Co. Asset also runs $14 million in active domestic midcap value equities for the plan; it was hired for the emerging markets portfolio because the firm was a "known entity," Mr. Hanna said.
The $181 million pension plan's asset allocation is 39% domestic equity, 30% domestic fixed income, 8% international equity, 7% international fixed income, 6% real estate, 5% venture capital and 5% cash. Wainwright Investment Counsel assisted.