Hollywood (Fla.) Employees' Retirement Fund hired RBC Global Asset Management to run about $17 million in active emerging markets equities.
The $335 million pension fund's board selected the manager at its Aug. 25 meeting, recently released meeting minutes show.
The pension fund conducted a shortlist search after it created a 5% target allocation to emerging markets equities at its April 28 meeting.
Martin Currie Investment Management was the other finalist.
The target was created following a recent asset/liability study. The target was created by the elimination of a 5% target to international small-cap equities. Brandes Investment Partners was the manager of that portfolio.
Investment consultant Segal Marco Advisors assisted.
Christine Bailey, executive director, could not be immediately reached for further information.