Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, hired Lee Munder Capital Group to manage up to $18 million in active emerging markets equities for the $364 million defined benefit pension fund, according to Sheryl Trezise, executive director.
This is the pension fund's first allocation to emerging markets equity.
Funding will come from rebalancing, Ms. Trezise added. The pension fund issued an RFP in June as part of its asset allocation plan. Other changes could not be learned. Calls to Sebastian Grzejka, a consultant at NEPC, were not returned at press time.
NEPC assisted with the search.