Georgia Firefighters Pension Fund, Conyers, will add its first emerging markets debt manager in 2014, said James R. Meynard, executive director.
The $670 million pension fund will conduct an invitation-only search in the late winter or early spring for active emerging markets debt.
The entry into emerging markets debt is the result of an asset allocation study by NEPC, the investment consultant hired by the pension fund in February.
Mr. Meynard also said the pension fund will be increasing its allocation to international equities and reducing domestic equities. He would not provide specific numbers, but he said no managers will be terminated.
An invitation-only search for a new active international equity manager would also likely occur after the new year, including for assets currently parked in a global equity index fund managed by State Street Global Advisors.
The pension fund had moved $106 million into the index fund in the summer of 2012 following the termination of Artio Global Investors from an active portfolio.
The pension fund does not issue RFPs, Mr. Meynard said.
