International / Global / Emerging Markets
The termination follows a recent downgrade from the plan’s investment consultant.
The plan’s general investment consultant will review an index search as well as potential active manager candidates at a meeting next month.
Many nonprofit investors, investment advisors and managers agree that an active equity strategy that can invest in China is the key to capturing returns above U.S. equities.
The firm will now manage approximately $40 million in the plan’s main portfolio.
The plan hired two separate account managers for its global equity emerging manager program after increasing the program’s allocation range this week.
The plan terminated an underperforming international equity manager and made a venture capital commitment last month.
The plan is looking to expand its existing $1.16 billion factor portfolio to a global all country equity mandate.
The college savings plan removed an international equity manager from watch status after four years due to improved performance.
The university is considering a proposal to increase its asset allocation targets to global equity and private equity.
The plan expects to issue an RFP for a general investment consultant RFP later this month and will interview three finalists in an ongoing international equity search.