Non-U.S. & Global Equity
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.
The retirement system also added two private credit commitments in the third quarter.
The plan is also expected to reduce positions in U.S. small-cap and explore enhanced indexing as parts of an overall global equity portfolio roadmap discussed last week.
The retirement fund terminated the manager due to underperformance.
The termination stems from underperformance and an asset allocation change.
The retirement system also placed its international large-cap growth equity manager on watch last month.