Tampa (Fla.) General Employees' Retirement Fund hired WCM Investment Management to run about $75 million in active international growth equities, said Dana Blydenburgh, pension plan supervisor.
The $729 million pension fund's board had approved a shortlist search at its Oct. 15 meeting for a manager potentially to replace Fisher Investments, which runs a similar portfolio.
The search was approved after the board had reviewed recent news reports following offensive remarks made in the fall by Kenneth L. Fisher, the firm's founder, executive chairman and co-chief investment officer, October meeting minutes show.
Ms. Blydenburgh could not be immediately reached to provide further information.
Other finalists were Harding Loevner and Walter Scott & Partners.
As of Nov. 30, the actual allocation to international developed markets equities was 20.9%; the target is 20%.
Investment consultant Asset Consulting Group assisted with the search.
A Fisher Investments spokesman declined to comment beyond a previously issued response that did not address the pension fund’s action.
