Anne Arundel County Retirement & Pension System, Annapolis, Md., hired Dimensional to run $68 million in emerging markets equities, confirmed John Peterson, the retirement system's assistant personnel officer.
The retirement system's board of trustees voted at a May 10 meeting to switch from Marvin & Palmer Associates on the recommendation of Rhett Humphreys, consultant at NEPC, the system's investment consultant, Mr. Peterson said in a telephone interview. Mr. Peterson said Marvin & Palmer was terminated for performance. Phone calls to Marvin & Palmer were not returned by press time.
The $1.4 billion retirement system has a 7% target for emerging markets equities, “but we're not quite there yet,” Mr. Peterson said.