Norfolk County Retirement System, Canton, Mass., hired Ariel Investments and Allianz Global Investors to run $10 million each in active domestic microcap core equity, confirmed Patrick LePage, assistant executive director.
It is the $670 million pension fund's first investments in microcap equity. Funding will come from cash, Mr. LePage said in a telephone interview. No managers will be terminated.
An RFP was issued in March. Investment consultant Wainwright Investment Counsel assisted.