Corpus Christi (Texas) Firefighters’ Retirement System hired Eaton Vance to run up to $6 million in emerging markets equities, confirmed Gracie Flores, plan administrator.
It is the $100 million system’s first investment in the asset class, Ms. Flores said in a telephone interview. The system approved a 6% allocation to emerging markets earlier this year and has funded Eaton Vance with $2 million so far, she said.
The system’s board of trustees will discuss at its Oct. 20 meeting whether to dispatch the remaining $4 million in November or in early 2012.
The system is funding the emerging markets allocation from its overall equities portfolio. The system’s current asset allocation is 54% equities, 40% domestic fixed income and 6% emerging market equities.
