International / Global / Emerging Markets
The plan is seeking firms without geographic barriers following an asset class restructuring earlier this year.
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The plan’s investment committee also approved reallocating assets from a Japan equity portfolio at a meeting yesterday.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.
The deferred comp plan’s investment consultant will present an international large-cap value manager search report at next week’s meeting.
The two international equity managers were placed on watch for performance reasons.
The plan also made a private equity commitment in June.
The plan agreed to a consultant recommendation to terminate an underperforming international small-cap equity manager this week.
The retirement fund terminated an international equity manager due to underperformance as well as to reduce fees.
The manager hire was recommended as part of a public equity structure analysis.
