Equity
The retirement system hired three global equity managers to replace its dedicated international and emerging markets equity allocations in the first quarter.
The search will not include the plan’s two incumbent firms.
The investment manager has named a new lead portfolio manager for its small and small- to mid-cap equity team.
The plan terminated an international equity manager that saw a personnel departure last year.
The plan’s sole emerging markets equity manager was first hired in 2018.
The plan expected to begin the search to comply with state regulatory requirements.
The searches stem from a new asset allocation and international equity structure review approved in February.
The plan is seeking managers to handle a total of $135 million.
The search is being conducted to diversify the program’s investment lineup.
The plan will move the assets with the state investment trust.