Miami Beach (Fla.) Employees' Retirement System hired Wellington Management to run $50 million in active international equities, said Rick Rivera, pension administrator, in an e-mail.
The $509 million pension fund began a shortlist search in March as a result of the pension fund board's decision to switch its international equity portfolio to an active strategy from passive. RhumbLine Advisers previously managed the portfolio.
Other finalists were Bailard, Strategic Global Advisors and WCM Investment Management.
Investment consultant Milliman assisted.
