San Jose (Calif.) Police & Fire Department Retirement Plan hired Dimensional Fund Advisors to manage $50 million in active emerging markets value equities, said Ron Kumar, investment officer.
The $3.2 billion pension fund conducted an invitation-only search in the fall to find an additional active manager to complement existing active managers Vontobel Asset Management, which runs $66 million in an emerging markets equity strategy and Aberdeen Asset Management, which runs $23 million in frontier markets equities.
Funding comes from an emerging markets equity ETF managed by BlackRock's iShares.
Investment consultant NEPC assisted.
