International / Global / Emerging Markets
Plan terminated an emerging markets equity manager earlier this year due to underperformance.
The retirement plan hired several managers to move toward its new asset allocation policy.
The university approved a new investment policy statement with revised long-term strategic asset allocation targets for its strategic and reserve pool last year.
The plan is considering a 5% dedicated allocation to the new asset class.
The deferred compensation plan replaced its emerging markets large-cap core equity manager, which had been on watch since January 2022.
The retirement system’s upcoming search will comply with state procurement laws.
The retirement system terminated four international and emerging markets equity managers in February.
The university added two managers from its endowment to its watchlist in the second half of 2024 due to staff changes.
The university approved fully redeeming a large-cap equity fund and reinvesting the proceeds with its other actively managed global large-cap equity strategy.
The retirement system’s current emerging markets equity manager was first hired in 2019.