Coral Gables (Fla.) Retirement System hired Dimensional Fund Advisors to manage about $28 million in active domestic large-cap value equities, recently released board meeting minutes show.
The $396 million pension fund conducted a shortlist search in January for a manager to replace M.D. Sass, which was terminated for underperformance. M.D. Sass officials could not be immediately reached to provide comment.
The other finalist was Brandywine Global Investment Management.
As of Oct. 31, the actual allocation to domestic equity was 35.7%.
Investment consultant AndCo Consulting assisted.
Kimberly Groome, retirement system administrator, could not be immediately reached to provide further information.