International / Global / Emerging Markets
The plan’s global equity manager experienced recent underperformance.
The terminations stem from a completed domestic equity restructuring.
The plan will receive replacement options at its Sept. 7 board meeting.
The plan is conducting the search due to underperformance from its incumbent.
The plan will add three value managers to its international equity portfolio.
The plan hired a new global equity manager to handle a $500 million mandate and added 13 other commitments last month.
The proposed fund liquidation would remove the value-tilt within the plan’s global equity portfolio.
The plan also slated domestic small-cap growth equity manager finalist interviews for its September meeting.
The plan has replaced emerging markets equity manager Newton Investment Management, which it had been monitoring.
The board terminated three managers to “harmonize” the equity portfolios between its plans.