Pennsylvania Municipal Retirement System (PMRS) has selected its finalists in a search for managers to oversee a total of $130 million in active international value equities, Pensions & Investments reports. The $1.6 billion, Harrisburg-based system picked independent investment adviser HGK Asset Management, independent investment management company Marathon Asset Management and asset management firm and the system’s current manager Mercator Asset Management.

Additionally, Johnston Asset Management, Scout Investments and incumbent GlobeFlex Capital were named as finalists to manage $105 million in active international growth equities. The retirement system may select more than one manager for each portfolio. The selection will be announced after final interviews on November 17.

Click here for the story from Pensions & Investments.