Miami Beach (Fla.) Employees' Retirement System is conducting a shortlist search for an active international equity manager to run $50 million, said Rick Rivera, pension administrator, in an e-mail.
The $509 million pension fund decided at its Feb. 9 board meeting to switch its international equity portfolio to active management. Current manager RhumbLine Advisers runs a passive strategy. He said the pension fund hopes to make a decision by May.
Investment consultant Milliman is assisting.