Jacksonville (Fla.) Police and Fire Pension Fund hired Boston Co. Asset Management to manage a portion of $45 million in active international equities, subject to contract negotiations, said Dick Cohee, deputy executive director. Officials of the $900 million fund are negotiating with another international equity manager who will run the remaining assets, Mr. Cohee would not identify the firm because it's too early in the negotiation process. Franklin Templeton, Fidelity and Julius Baer were the other finalists in the fund's search; it issued an RFP in the second quarter.
Funding will come from a $45 million EAFE index fund run by Northern Trust. The money was parked there after plan officials terminated Putnam Investments, the portfolio's previous manager, last year because of market-timing allegations.
Merrill Lynch is assisting.