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A Midwestern city has reopened its search for a firm to manage its investment portfolio.
Her responsibilities have been assumed by other team members, a spokesperson said.
The U.S. Securities and Exchange Commission on Friday said it has found “potentially misleading” claims and inadequate controls around investing environmental, social and governance (ESG) issues in a review of investment advisors and funds.
The plan made a hire in its shortlist search to replace an incumbent that closed in 2020.
The plan received an update today on its search and will conduct due diligence on four managers over the next two months.
The plan has now committed $50 million of its $90 million target as part of its 2021 pacing plan.
The plan looks to the past for its new investment head.
Ravenscroft’s Mark Harries has joined Square Mile under the newly-created role of chief investment officer, Investment Week can reveal.
The plan will receive a search analysis of REITs managers as well as review potential alternative investment options in the coming months.
The lack of in-person meetings did not dampen interest in smaller firms, which are putting themselves out there through Zoom.