International / Global / Emerging Markets
The incumbent manager was replaced due to founder retirement, falling assets and client departures.
The review may lead to replacement searches for two incumbent managers.
The retirement system also terminated an international growth equity mandate.
The three finalists to be recommended at this week’s meetings do not include the pension plan’s incumbent consultant.
The plan agreed to extend a relationship with RVK that dates to 2006.
The retirement system conducted a similar search in 2016 when it rehired its incumbent manager.
A 529 plan based in a Western state has added two international equity funds to one of its investment option portfolios.
The plan made a $10 million growth equity commitment at its May meeting.
The plan liquidated its inhouse passive global equity mandate and made $1.6 billion in total commitments in April.
The new asset allocation includes slight increases to several portfolios.