(updated with correction)
Louisiana Municipal Employees' Retirement System, Baton Rouge, hired Dimensional Fund Advisors and Vontobel Asset Management to run about $25 million each in active emerging markets equities, confirmed Robert Rust, MERS director.
Partial funding comes from the $835 million pension fund's termination of active global equity manager WHV Investment Management. The termination was the result of the pension fund moving into emerging markets. Mr. Rust did not have an exact portfolio size.
Funding also comes from a reduction in Barrow, Hanley, Mewhinney & Strauss' active domestic small-cap value equity portfolio, leaving it with about $30 million.
Investment consultant Meketa Investment Group assisted.