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Pension Funds

Pompano Beach Police & Firefighters pick 2 finalists in midcap value equity search

Pompano Beach (Fla.) Police & Firefighters' Retirement System named Chartwell Investments and Nuance Investments as finalists in a shortlist search for an active domestic midcap value equity manager.

The presentations will take place at the $240 million pension fund's April 16 board meeting, said recently released board minutes. The search was conducted because of the underperformance of current manager RBC Global Asset Management, the minutes said. RBC Global spokeswoman Leah Commisso could not be immediately reached to provide comment.

As of Dec. 31, the pension fund's domestic equity allocation was 35.2%.

Investment consultant Graystone Consulting is assisting.

Debra Tocarchick, the pension fund's executive director, could not be immediately reached to provide further information.