International / Global / Emerging Markets
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.
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.