Miramar (Fla.) Firefighters' Pension Fund is searching for a domestic small-cap equity manager to run about $5 million, said William Dahab, director of research at Dahab Associates, investment consultant to the plan.
The $94 million pension fund will accept proposals from both passive and active managers. Growth and value managers can submit proposals, although the portfolio will be benchmarked to the Russell 2000 index, not the growth or value indexes, Mr. Dahab wrote in an e-mail.
Funding will come from reducing the pension plan's smidcap allocation, which is split between Lee Munder Capital Group and Northern Trust Asset Management. Mr. Dahab did not provide asset sizes of the portfolios by press time.
Proposals are due at 5 p.m. EDT on April 30. A timetable for a decision has yet to be determined. The RFP is available on Dahab's website.
