Equity
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.
The searches stem from a new asset allocation and international equity structure review approved in February.
The plan is seeking managers to handle a total of $135 million.
The search is being conducted to diversify the program’s investment lineup.
The plan will move the assets with the state investment trust.
The retirement fund also adopted a new asset allocation to take advantage of higher interest rates.
The fund has decided to terminate its contracts with an international equity and emerging markets equity manager that handles approximately $8.5 billion to comply with state law barring it from investing in financial companies that boycott energy companies.