Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, hired ABS Investment Management to run about $20 million in active emerging markets equities.
The $671 million system's board approved the hiring at its Aug. 26 meeting, Carolyn Russo, executive director, said in an email.
The retirement system issued an RFP in May after its previous emerging markets equity manager, LMCG Investments, closed its LMCG Emerging Markets Collective Fund.
Assets have been temporarily parked with the system's international equity managers, Ms. Russo said.
The other finalists were Manulife Investment Management, Thornburg Investment Management and Wellington Management.
Investment consultant NEPC assisted.
