Equity
The plan terminated its emerging markets equity allocation amid a “challenging environment” for the asset class.
The foundation is seeking an investment associate focused on public equity and fixed-income to assist in the development and implementation of portfolio strategies.
The pension recently added a sustainability-focused public equity manager alongside private equity and real estate commitments.
The firm has launched the strategy to carve out China from their emerging markets allocation and gain more exposure to smaller emerging market economies underrepresented in the main index.
The retirement system hired three global equity managers to replace its dedicated international and emerging markets equity allocations in the first quarter.
The search will not include the plan’s two incumbent firms.
The investment manager has named a new lead portfolio manager for its small and small- to mid-cap equity team.
The plan terminated an international equity manager that saw a personnel departure last year.
The plan’s sole emerging markets equity manager was first hired in 2018.
The plan expected to begin the search to comply with state regulatory requirements.