Lexington (Mass.) Contributory Retirement System hired RhumbLine Advisers to run about $20 million in passive domestic equities.
The $169 million pension fund's board approved the hiring at its May 28 meeting, recently released meeting minutes show.
The pension fund issued an RFP in November. There were no finalist presentations.
Funding comes from the termination of an active domestic large-cap value equity portfolio managed by Fiduciary Management for performance reasons. FMI officials could not be immediately reached for comment.
Investment consultant Meketa Investment Group assisted.
Marguerite Oliva, the system's retirement administrator, could not be reached for further information.
