Milwaukee City Employes' Retirement System selected a manager to replace Putnam, which ran $277 million in international equities for the $3.8 billion system, said Jennifer Shannon, CIO. The board did not disclose which of the five finalists - Artisan, Fidelity, J.P. Morgan Fleming, MFS and William Blair - was selected pending finalization of contract terms and board approval, she said. She couldn't say when approval will occur. The new portfolio will be active core with a growth tilt.
A Putnam spokeswoman didn't respond to a request for a comment.