International / Global / Emerging Markets
The plan terminated a $315 million international small-cap equity mandate due to long-term underperformance.
The plan also terminated an international small-cap equity manager for performance reasons.
The pension fund had approved minimum qualifications for the search last month.
The retirement association also terminated an emerging market fixed-income mandate at today’s board meeting.
Four total firms were interviewed in May for the mandate.
The foundation added an international large-cap equity allocation after revising its asset allocation last year.
The fund narrowed a search for emerging markets large-cap ex-China equity managers to two finalists at the end of the second quarter.
The plan will receive a recommendation to terminate an international equity manager due to underperformance.
The retirement system will interview four firms next month for an up to $225 million mandate.
The retirement system’s outsourced cio recently terminated a global large-cap core equity manager due to underperformance.