Brookline moves to emerging markets stocks

Brookline (Mass.) Retirement System plans to invest in active emerging markets equities for the first time, with the $225 million system looking to hire a manager to run $8 million to $12 million, said Frank Zecha, executive director. All cap sizes and styles are being considered. Funding could come from an assortment of the fund’s other holdings depending on what the market is doing when the selection is made, but the system doesn’t plan to terminate any existing managers, Mr. Zecha said. Meketa Investment Group is assisting. A manager should be chosen before the end of July, Mr. Zecha said.