Non-U.S. & Global Equity
The plan hired one international equity manager and terminated three others at this week’s board meeting.
The plan has selected four firms for further due diligence and evaluation.
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.
The pension plan terminated a roughly $360.5 million emerging markets equity mandate last month.
The search to fill a roughly $25 million allocation is open to both active and passive strategies.
The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.
The retirement system expects to launch an emerging markets small-cap search before the end of the year and a broad emerging markets search next year.
The retirement system hired Dimensional Fund Advisors to handle international value and domestic small-cap value equity mandates last quarter.
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.