International / Global / Emerging Markets
The retirement association will look to fill out its new international small-cap equity allocation with a hire next quarter.
The plan will look to add a new global equity manager at a board meeting next month.
The plan’s investment consultant began a replacement search in the fourth quarter.
The U.S. and Israel’s joint strike against Iran over the weekend has prompted retaliation across the Middle East that sent oil prices surging, though industry experts believe the markets can absorb those levels in a short-lived conflict.
The retirement plan will consider the termination of three equity managers amid a restructuring of its public equity portfolio next week.
The health care trust hired an additional core-plus fixed-income manager while swapping out another at this week’s board meeting.
The city’s two retirement systems committed $12 million apiece for pacing purposes.
The plan terminated the firm after closed session deliberations.
The retirement fund added a pair of commitments to existing manager relationships last month.
The institution replaced its emerging markets equity manager last year due to a decline in assets and personnel turnover after considering six other firms.