Non-U.S. & Global Equity
The plan’s board had been in a protracted search that had initially seen Verus hired over incumbent Callan and then the search restarted.
The retirement fund also disclosed commitments totaling roughly $1.7 billion in June.
The plan’s investment committee also approved reallocating assets from a Japan equity portfolio at a meeting yesterday.
The two international equity managers were placed on watch for performance reasons.
The plan also made a private equity commitment in June.
The plan agreed to a consultant recommendation to terminate an underperforming international small-cap equity manager this week.
The manager hire was recommended as part of a public equity structure analysis.
A trust fund based in a Western state has added a new global equity manager to its portfolio.
The plan replaced one emerging markets equity manager with two new firms in June.
The retirement association also recently committed $205 million across six new funds.