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International Equity Asset Class

News

Russell: Managers Bullish on Risky Assets

Asset managers may be ready to take on more risk in their portfolios, according to the findings of Russell Investments latest quarterly 'Investment Manager Outlook'. The survey indicated that 74% of polled managers are bullish on emerging markets stocks, and 66% feel positively about high yield fixed-income. Conversely, surveyed managers are less than enthusiastic about cash and U.S. Treasuries, expressing bullish sentiment of 10% and 9%, respectively, Russell said. Also noteworthy, 67% of responding managers expect…

Alaska Plan Adopts New Portfolio Targets

The $14.5 billion Alaska Retirement Management Board (ARMB) slightly tweaked its asset targets at a meeting last week. The changes will take affect in the fiscal year beginning July 1. According to The Juneau Empire, the new asset allocation has less of the ARMB's assets being invested in absolute return strategies, as the board has cut that particular target by 1%. The plan will diversify its remaining assets in the space among more hedge fund managers, however. Additionally,…

Barclays to Boost Equity Efforts in Mexico

Gabriel Barbara has joined Barclays Capital as head of equities for Mexico, where he will be responsible for establishing and expanding Barclay's equity business in the region. He will report to Jose Antonio Gonzalez, head of Barclays in Mexico, and Bill Rutledge, head of equities distribution for Latin America. Barbara spent 14 years with Merrill Lynch Mexico, eventually reaching the role of director in equities sales-trading, before joining Barclays. …

Alabama Fund Sticks with Stocks

The board of the Birmingham Retirement System has rebuffed a proposal made by the city's mayor to revamp the fund's asset allocation. Mayor Larry Langford, who also serves as the chairman of the pension board, suggested that the $696 million plan steer assets away from the equity markets, and instead purchase Treasury bills and CDs, according to an account in The Birmingham News. The Alabama system has loss approximately 25% of its value from July 2008 through February…

Colorado PERA Goes with Newton for Equity

The $29 billion Colorado Public Employees' Retirement Association has selected Newton Capital Management to oversee a global equity mandate of an undisclosed size. The London-based firm, which is a subsidiary of BNY Mellon Asset Management, started its U.S. business in 2006. This mandate win marks the first appointment for the firm by a U.S. state pension fund. …

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LACERS Remains with PCA

The Los Angeles City Employees' Retirement System (LACERS) has extended the contract of general investment consultant Pension Consulting Alliance (PCA) for an additional year, said Linda Aparicio, spokeswoman for the $8.2 billion California plan. PCA's contract was set to expire on June 30, but will now go through to June 2010. Aparicio noted that the extension would give the board time to consider conducting a general investment consultant search in the future. The board also approved…

Tulare County Completes Search and Study

The Tulare County Employees' Retirement Association (TCERA) has completed an asset/liability study and as a result will up the ante on its allocations to private equity and hedge funds, and make maiden investments in TIPS and emerging markets. David Kehler, administrator of the $1 billion plan, said that the board will look at the individual asset classes over the next few months to determine the actual sizes of the new and increased allocations. This will help…

City of Knoxville Picks Emerging Markets Manager

The $380 million City of Knoxville Pension Board has retained the services of Acadian Asset Management. The firm will oversee an emerging markets equity mandate for the plan. According to the minutes of a May 14 meeting, the hire is still 'subject to the review and recommendation of an investment management contract.' Last June, the boardapproved a 5.5% allocation to emerging markets equity. Mike Cherry, executive director at the Tennessee system, could not be reached by press…

Iowa Regents Nears Real Estate Hire

The Board of Regents of the State of Iowa will interview firms for a real estate mandate later this month, said Patrice Sayre, chief business officer. Sayre said the portfolio amount has not been determined, but the board is looking to beef up its investments in that sector. 'Real estate is an area that has had minimal investments from us,' she said. Wilshire Associates will assist with the selection. Meanwhile, the fund has made a new addition to its…

More Emerging Markets Being Considered for CRPTF

The Connecticut Retirement Plans and Trust Funds (CRPTF) still has some loose ends to tie up in its emerging market search, said Lee Ann Palladino, acting CIO at the $20.2 billion plan. As recently reported on imweekly.com, Palladino said that the board did hire Aberdeen Asset Management to oversee an emerging markets international equity mandate, but the other finalists in the search are still in play. The fund will continue to discuss the search at…

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