Miami Beach (Fla.) Policemen's Relief and Pension Fund hired Tocqueville Asset Management to run about $3 million in core fixed income.
The $10 million pension fund's board approved the hiring of Tocqueville at its July 15 meeting, recently released meeting minutes show.
Inverness Counsel was previously the sole manager of the pension fund, and currently manages $7 million in assets for the fund.
Investment consultant AndCo Consulting assisted.
John McCann, senior consultant at AndCo Consulting, could not be immediately reached for further information.