Pennsylvania Municipal Retirement System, Harrisburg, is moving into active emerging markets equity for the first time. David Lee, director of manager research at investment consultant Dahab Associates, said the $1.5 billion plan wants at least one manager to run the new $150 million portfolio in a commingled fund or a passive index fund. Passive managers would likely be indexed to the MSCI Emerging Markets index, but that has yet to be decided, Mr. Lee said. The move was recommended in an asset allocation study Dahab performed last year. Funding comes from rebalancing. Manager selection is expected sometime in the third quarter.