International / Global / Emerging Markets
The plan’s current international equity manager recently saw the departure of a portfolio manager.
The deferred compensation plan replaced its emerging markets equity manager, which had been on watch, in the second quarter.
The fund’s investment and operations committee will recommend State Street Global Advisors to handle an active emerging markets equity ex-China mandate later this month.
The plan also added several new equity managers to the program.
The fund will consider adding international equity, private equity co-investment and private credit secondaries strategies to its portfolio this week.
The plan’s sole emerging markets equity manager was first hired in 2017.
The program approved the addition of a new small-cap value fund to replace an existing strategy within a lineup of underlying fund managers and rehired its investment consultant for a three-year term.
The retirement system is seeking an international growth equity manager to handle $200 million.
The plan replaced its international growth equity manager in June.
The termination, which was recommended by the plan’s general investment consultant, stems from performance reasons and a key personnel departure.