International / Global / Emerging Markets
The new asset allocation includes slight increases to several portfolios.
The fund approved closing its investment in an emerging markets index strategy and transferring the proceeds into a passive vehicle with two sleeves with an existing manager.
One of three portfolio managers on the international equity team departed.
The plan’s investment subcommittee will consider domestic mid-cap value and emerging markets equity replacement options at an upcoming meeting.
The fund will consider closing its investment in an emerging markets index strategy and transferring the proceeds into a new passive vehicle with an existing manager to provide additional flexibility regarding its exposure to China.
The institution approved venture capital commitments to a firm that marks a new relationship and terminated a hedge fund manager for liquidity purposes and being overweight its targets to the strategies.
The fund will conduct searches for a U.S. large-cap growth equity manager and a global equity manager with a tilt toward either core or value stocks after approving a new asset allocation at its May board meeting.
The $27 million in assets will be used for liquidity purposes.
The plan hired a new international small-cap manager following interviews that included its incumbent.
The terminations were approved amid the plan’s ongoing international equity manager search.