Fort Lauderdale (Fla.) Police & Fire Retirement System hired Dodge & Cox to run $58 million in active international equities, confirmed Fred Nesbitt, director of public information.
Funding comes from the $768 million pension fund's termination of Thornburg Investment Management, which ran a similar strategy, after a search was performed to test the market.
Dodge & Cox was one of four international equity managers to make presentations at the pension fund's board meeting Wednesday. The others were Harbor Capital Advisors, Harding Loevner and Manning & Napier.
Investment consultant CapTrust Advisors assisted.