Non-U.S. & Global Equity
Pension fund staff will conduct further review the universe of active emerging markets ex-China funds as part of an expected search request later this year after the board agreed to divest its current passive allocation to the asset class from the country.
The retirement system hired three global equity managers to replace its dedicated international and emerging markets equity allocations in the first quarter.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The retirement system eliminated its 6% target to the asset class this week.
The plan selected a new emerging markets equity manager following finalist interviews held in January.
The retirement fund also adopted a new asset allocation to take advantage of higher interest rates.
The plan has hired its fourth global unconstrained equity manager.
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
The plan opted for an emerging markets equity fund with more diversified holdings.
The pension plan approved new structures for its infrastructure, non-U.S. equity and real estate portfolios last week.
