Non-U.S. & Global Equity
The plan reduced its international small-cap equity portfolio to two managers from three at last week’s board meeting.
The plan located in our nation’s capital approved a search for active international equity managers.
The pension plan replaced its global large-cap growth equity and domestic core-plus fixed-income managers in the second quarter.
The pension had launched a search for a new manager in May.
The plan will invest $150 million into Ninety One’s Global Environment strategy.
Geopolitical events, regulatory changes and policy shifts have led investors to reevaluate the role of exposure to China in their portfolios.
The retirement fund made commitments totaling $2.7 billion in August.
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.