The actively managed strategy is part of a new series of mutual funds and accelerates the firm’s ongoing strategy to expand its in-house intermediary distribution network in the U.S.
Pension fund staff will conduct further review the universe of active emerging markets ex-China funds as part of an expected search request later this year after the board agreed to divest its current passive allocation to the asset class from the country.
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.