Non-U.S. & Global Equity
The plan is nearing a global core equity manager search as it looks to fill a new underlying 20% allocation.
The retirement system will also see its deputy executive director retire next week.
The potential search follows the termination of its incumbent active manager last month due to performance concerns.
The pension plan also made private debt and private equity commitments yesterday.
The international small-cap growth equity manager underperformed and experienced asset outflows as well as organizational changes.
The pension system made its first traditional private equity buyout commitments in years at today’s board meeting.
The retirement system also approved new target allocations for its public equity managers at today’s investment committee meeting.
Emerging markets equities have increasingly ignited interest for institutional investors in recent months and while commitments slowed in March due in part to geopolitical issues and what the industry views as short-term volatility, these investments remain beneficial to portfolios.
The deferred compensation plan also terminated its global large-cap growth equity manager in February.
The government is launching the country’s first national sovereign wealth fund and will provide $25 billion over three years on a cash basis to seed the fund.
