Denver Employees Retirement Plan hired Altrinsic Global Advisors to manage about $77 million, or about 3.5% of the plan's portfolio, in an international developed markets equities strategy, confirmed Randall Baum, chief investment officer for the $2.2 billion pension fund.
Altrinsic was hired to replace Franklin Templeton, which the plan terminated. Mr. Baum did not disclose the reason for the termination. Franklin Templeton spokeswoman Stacey Coleman could not be immediately reached for comment.
The pension fund's target allocation to international equity is 23.5%.