Denver Employees Retirement Plan selected WCM Investment Management to run 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.
WCM was hired to replace Fidelity Institutional Asset Management, which the plan terminated. Mr. Baum declined to disclose the reason for the termination.
The selection of WCM was the result of an invitation-only search assisted by the plan’s investment consultant, Meketa Investment Group.
FIAM spokesman Charles Keller declined to comment.