Sioux Falls (S.D.) Employees' Retirement System hired Dodge & Cox to run about $48 million in active international equities.
The $613 million pension fund's board approved the hiring at its May 4 meeting, recently released meeting minutes show.
Funding comes from the termination of Franklin Templeton from its active international value equity portfolio, which was also approved at the May 4 meeting. The minutes did not disclose the reason investment consultant AndCo Consulting recommended the change.
As of March 31, the actual allocation to international equities was 16.1%.
Angie Uthe, compensation and benefits manager in the city's human resources department, could not be immediately reached to provide further information.
