Searches And Hires
The city received five proposals in response to its RFP seeking investment management services.
The retirement system is looking to hire long volatility and global macro managers after increasing its target allocation to the crisis risk offset portfolio.
The retirement system will interview four firms next month for an up to $225 million mandate.
The retirement system’s outsourced cio recently terminated a global large-cap core equity manager due to underperformance.
The retirement fund disclosed nine commitments totaling $1.2 billion in May.
The state is conducting a general investment consultant search on behalf of its retirement system and several other funds.
The retirement system will consider options to replace its investment in Wellington Management Company’s Wellington Opportunistic Investment Fund, which is closing.
The retirement system was scheduled to consider domestic large-value equity alternatives to incumbent GAMCO Investors due to concerns over succession planning.
The $50 million in total commitments is subject to board approval next week.
The plan will seek a global equity manager to equitize upcoming proceeds.