International / Global / Emerging Markets
The college savings plan approved adding a passive international equity comingled fund to its portfolio at the expense of two actively managed funds to reduce risk and lower management costs.
The Lone Star State-based fund added an international value equity mandate to complement its growth-focused managers.
The plan will issue an RFP for ACWI ex-U.S. managers in the coming weeks.
The plan hired a new international value equity manager last month to replace its incumbent.
Pension plan expects to review approving a search for international small-cap equity managers next month.
The manager will fill maiden targets of 5% to international small-cap equity for each plan.
The retirement association is looking to add a passive component to its international equity portfolio.
The incumbent manager was replaced due to founder retirement, falling assets and client departures.
The review may lead to replacement searches for two incumbent managers.
The retirement system also terminated an international growth equity mandate.