The retirement plan welcomed a familiar face as its newest investment staffer.
Township is searching for a firm to provide investment, consulting, custodial, administrative and actuarial services for its pension plans.
The search is due to underperformance from the retirement plan’s incumbent manager.
The search comes after the plan placed its incumbent international equity manager on watch in May.
The search will be for index products covering “various strategies with differing fund and account types and across numerous geographies and markets.”
The fund closed with over $4 billion in commitments, exceeding its $2 billion initial target.
The plan’s board will hear a recommendation to switch to outsourced cio services with a new firm next week.
The retirement fund is conducting the search after working with its incumbent “for decades.”
The plan previously rehired its incumbent for the services following a similar search in 2019.
Ninety One has named Sangeeth Sewnath as managing director for the Americas.