Non-U.S. & Global Equity
The deferred compensation plan recently made several changes to both its equity and fixed-income portfolios.
The pension plan liquidated an approximately $237 million global equity mandate and made commitments totaling $1.4 billion in October.
The pension fund hired international small-cap core, growth and value managers to conclude a search initiated earlier this year.
The plan is tentatively scheduled to search for active management in emerging market debt and emerging markets equity next year.
The pension plan will liquidate its $227.5 million timber mandate and $106.4 million farmland mandate due to underperformance.
The deferred compensation plan will issue a record keeper RFP due to the upcoming contract expiration of its incumbent provider.
The plan also added two EAFE equity sub-managers to its emerging manager-of-managers portfolio.
The plan is seeking a firm to handle a $20 million mandate.
The pension plan liquidated an international equity mandate and made $1.8 billion in total commitments in September.
Expansions will help the systems reach their goal of having 15% of U.S.-based actively managed investment assets with diverse-owned firms by 2025 and 20% by 2029.