Iowa Municipal Fire & Police Retirement System, West Des Moines, hired Dimensional Fund Advisors to manage $5 million to $10 million in the system’s first active emerging markets equities portfolio, pending contract negotiations, said Dennis L. Jacobs, executive director.
The move was a result of the $1.6 billion system’s practice of evaluating other strategies of existing managers, Mr. Jacobs said. DFA manages $68 million in active U.S. small-cap equity for the system.
Funding will come from cash.
Summit Strategies, the system’s investment consultant, assisted.