Non-U.S. & Global Equity
The retirement plan hired several managers to move toward its new asset allocation policy.
The deferred compensation plan replaced its emerging markets large-cap core equity manager, which had been on watch since January 2022.
The retirement system will discuss implementing its new strategic asset allocation with manager searches.
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.