Medford (Mass.) Contributory Retirement System hired ABS Investment Management to run about $20 million in active emerging markets equities.
The $269 million pension fund’s board approved the hiring at its Dec. 23 meeting, recently released meeting minutes showed.
The pension fund issued an RFP in October due to the requirement by the Massachusetts Public Employee Retirement Administration Commission that services must be put up for bid every seven years, said Mark Minervini, executive director, at the time.
Incumbent manager City of London Investment Management Co. was a finalist along with Acadian Asset Management.
Investment consultant NEPC assisted.
