International / Global / Emerging Markets
The retirement fund terminated an international equity manager due to underperformance as well as to reduce fees.
The manager hire was recommended as part of a public equity structure analysis.
The termination comes after the firm was placed on watch for performance reasons in the first quarter.
The plan also recently concluded a liquid credit manager search.
The search is due to portfolio manager changes and underperformance by the incumbent.
The plan replaced one emerging markets equity manager with two new firms in June.
The retirement association also recently committed $205 million across six new funds.
The pension fund’s outsourced cio disclosed a pair of manager removals in the first quarter.
The plan also terminated two underperforming domestic equity managers.
The RFQ process follows a similar one launched in January for domestic small-cap equity managers.
