Searches And Hires
The redemptions stem from qualitative issues within the firm’s investment team.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The pension plan first issued an RFP seeking one or two separate account managers to establish emerging manager programs for real assets and real estate in January 2023.
The plan’s sole emerging markets equity manager was first hired in 2018.
The commission received two proposals in response to an investment consultant RFP issued in August.
The plan expected to begin the search to comply with state regulatory requirements.
PFM Asset Management currently serves as the county’s investment advisor.
The plan made the manager change due to performance issues with the incumbent.
The authority is slated to select a firm at its board of commissioners meeting in June.
The searches stem from a new asset allocation and international equity structure review approved in February.
