International / Global / Emerging Markets
The plans also replaced a domestic large-cap growth equity manager due to underperformance.
The university system will consider a recommendation from its investment consultant to redeem all assets from two global equity managers that it placed on watch earlier this year due to personnel changes and underperformance.
Board will look to add a new emerging markets equity manager within its $187.4 billion Commingled Trust Fund later this month.
The search comes after the plan placed its incumbent manager on watch.
The emerging markets equity manager had been placed on watch for performance reasons over the summer.
The plan is seeking firms without geographic barriers following an asset class restructuring earlier this year.
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The plan’s investment committee also approved reallocating assets from a Japan equity portfolio at a meeting yesterday.
The fund approved conducting a search for a U.S. small-cap value equity manager and an international growth equity manager to replace two existing firms within its portfolio due to a decline in strategy assets.
The deferred comp plan’s investment consultant will present an international large-cap value manager search report at next week’s meeting.