San Francisco City & County Employees’ Retirement System may award an active emerging markets equities mandate worth about $100-300 million, Pensions & Investments reports. The mandate will be funded with $18 million from the terminated emerging markets equity manager, Ashmore Investment Management. The remaining will be funded from ETFs. The $15.1 billion system will not terminate any ETF manager for the transfer of funds. Interested parties are expected to send their proposals by May 4, 2011, while a decision is expected by July 12, 2011.
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