Clearwater (Fla.) Employees Pension Fund is investing up to $40 million in an active emerging markets equity mutual fund managed by Dimensional Fund Advisors, said a board meeting video posted on the city's website.
The $963 million pension fund's board approved hiring Dimensional at its Oct. 16 meeting following the vote at that same meeting to terminate existing manager Eaton Vance Management from a similar $36.5 million portfolio due to underperformance.
Robyn Tice, Eaton Vance spokeswoman, could not be immediately reached for comment.
Jay Ravins, the city's finance director, could not be immediately reached to provide further information.
