City of Danville (Va.) Employees' Retirement System is searching for an emerging markets equity manager to run $8 million, confirmed Barbara Dameron, executive secretary. It will be the $175 million plan's first portfolio comprising solely emerging markets equity; plan officials are seeking additional diversification. Proposals for both active and passive management will be accepted, said Richard E. Dahab, president and chief investment consultant at plan consultant Dahab Associates.
Funding will come from a general rebalancing and no manager will be terminated as a result of the emerging markets search, according to Ms. Dameron.
The RFP is available on Dahab's website, www.dahab.com; proposals are due Jan. 10. Final presentations are slated for mid-February, but a date has yet to be determined, Mr. Dahab said, adding that a selection is likely "shortly thereafter."