Non-U.S. & Global Equity
The deferred compensation plan made the decision last quarter after reviewing four potential replacement options.
The pension will allocate $250 million to $400 million each to multiple mandates.
The retirement system shifted away from non-core fixed-income as part of changes approved at today’s investment committee meeting.
The retirement system will invest $200 million in an all-cap core strategy managed by ABS Global Investments.
The retirement system’s global growth equity manager had been on watch due to underperformance.
The retirement system hired a global equity manager to handle $500 million and added two commitments with existing manager relationships last week.
The plan will issue an RFP due to the upcoming contract expiration of incumbent Northwest Capital Management.
The plan replaced its incumbent emerging markets large-cap core equity and global core fixed-income managers in the fourth quarter.
The pension plan also made a real assets commitment this week.
The pension plan approved a new asset allocation policy that introduced five targets in the fourth quarter.