Non-U.S. & Global Equity
The plan terminated an approximately $799 million emerging markets equity mandate and made commitments with four existing managers and one new manager in September.
The plan is in the early stages of evaluating its long/short equity, absolute return and fixed-income credit portfolios.
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 increased the allocation range for its global equity emerging manager program by 5% this week.
The plan replaced its $77.5 million Asian all-cap equity mandate with T. Rowe Price Associates last week.
The plan is slated to conclude its global equity emerging manager program search and increase its allocation to the program at a board of investments meeting tomorrow.
The plan terminated a $475 million emerging markets value equity mandate in May and approved private markets commitments totaling $170 million in June.
The plan is seeking international developed markets large-cap value managers due to the upcoming contract expirations of its incumbents.
Program had underperformed its custom benchmark net-of-fees since inception.
The plan increased its total private markets target as the portfolio is currently overweight to private equity and private real assets and recently placed an MSCI EAFE Index fund manager on watch due to underperformance.