Non-U.S. & Global Equity
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The retirement fund also terminated a global equity manager-of-managers and made commitments totaling $695.6 million in October.
The retirement fund also disclosed commitments totaling $1.1 billion in September.
The retirement fund is also scheduled to review a core infrastructure manager for potential inclusion in the portfolio in February.
The retirement system also hired an international all-cap growth equity manager and four infrastructure managers this week.
The pension fund terminated a pair of underperforming international equity managers last month.
The plan’s initial priority will be to conduct a global core/value equity strategy search to compare with an existing investment manager.
The plan expects to approve three recommended finalists for future interviews at this week’s board meeting.
The plan’s emerging markets large-cap core equity manager had been on watch due to underperformance.
The retirement system also recently added private markets commitments totaling $26 million.