International / Global / Emerging Markets
The retirement fund terminated three managers at last month’s investment committee meeting.
The plan has now hired a total of 12 new international equity managers this year.
The retirement system terminated its incumbent international small-cap core equity manager this month due to personnel turnover.
The retirement system is scheduled to select three finalists in its international equity manager search next week.
The plan will conduct a global multi-sector fixed-income search after establishing a new allocation to the asset class at a meeting yesterday.
This week’s hire complements an existing emerging markets equity manager as part of an ongoing international equity portfolio restructure.
The university is weighing a revised investment policy statement that includes increasing its targets to domestic and international equities.
The plan is looking to replace its current manager that has “struggled continuously.”
The retirement system also increased its fixed-income target at the expense of real estate.
The university revised its asset allocation and added international equity and private equity managers in the fourth quarter as recommended by its general investment consultant.