Monroe County (Mich.) Employees Retirement System hired Hudson Edge Investment Partners to manage $17 million in active international equities.
The $264 million pension fund’s board approved the hiring at its Dec. 2 meeting, recently released meeting minutes showed.
A funding source was not provided. According to the pension fund’s most recent investment report, as of Sept. 30, Vanguard Group was its sole international developed markets equity manager running a wholly passive strategy and managed $47 million for the pension fund in the strategy.
As of Sept. 30, the pension fund’s actual allocation to international equities was 24%; the target is 22%.
Investment consultant Mariner Institutional assisted.
Dawn Angerer, retirement specialist, could not be immediately reached for further information.
