International Equity Asset Class

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CalSTRS Loses Global Equities Head

Eileen Okada will retire from her post as director of global equities at the $170 billion California State Teachers' Retirement System (CalSTRS) on Nov. 1. According to the fund's Web site, Okada had been on leave since March 28. She joined CalSTRS 36 years ago as an accountant. In the meantime, the plan's CIO Christopher Ailman will oversee the roughly $100 billion portfolio, which encompasses both U.S. and global equity. EFL Associates has been retained by the Sacramento…

City of Knoxville Creates New Allocations

The $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within…

Do-Over for Taunton's International Equity Search

It's the second time around for the Taunton Retirement System as the plan has reissued an RFP for an international core equity mandate with emerging markets exposure, confirmed Paul Slivinski, executive director with the $190 million plan. The plan first launched the $13 million search in March (See IMW, 3/17/08). Slivinski explained that there was an issue with the minimum criteria, which caused the board to start from scratch and reissue the RFP. He explained…

Illinois TRS Expands Emerging Manager Program

The Teachers' Retirement System of the State of Illinois (TRS) will be expanding its $500 million emerging manager program, said Eva Goltermann, spokeswoman for the $38.7 billion plan. The program, which had earlier encompassed only the public market asset classes, will now also include investments in private equity, real estate and absolute return. Goltermann noted that up to 10% of the program could go into private equity investments. 'TRS staff will take the lead in identifying…

Arkansas PERS Pushes for More International Equity

The Arkansas Public Employees Retirement System is planning to ramp up its international equity investments in an effort to enhance returns...

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Knoxville Creates New Allocations

As first reported on imweekly.com (6/18/08), the $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within fixed-income, the fund will allocate 10% to absolute return strategies and 5% to core-plus bonds.

Weymouth R.S. Issues RFP Trifecta

The Weymouth Retirement System is searching for three managers to oversee equity portfolios, said plan administrator Marsha Silva. Weymouth issued RFPs for a large-cap growth manager to oversee approximately $12 million, an international core manager to oversee roughly $10 million and a smid-cap core manager to oversee approximately $6 million.

Do-Over for Taunton's Int'l Equity Search

It's the second time around for the Taunton Retirement System as the plan has reissued an RFP for an international core equity mandate with emerging markets exposure, confirmed Paul Slivinski, executive director with the $190 million plan. The plan first launched the $13 million search in March (See IMW, 3/17/08).

Swampscott Seeks INVESCO Replacement

In a move that could remove INVESCO from its roster, the Swampscott Retirement System is searching for an international core equity manager to oversee roughly $5.5 million, confirmed Richard DiPesa, the executive director with the $31.2 million plan. DiPesa said that the board has not been pleased with the services of INVESCO and that it is looking for a firm to take over the manager's account.

Tennessee Plan Seeks Emerging Markets

The $35 million City of Franklin Employees' Pension Fund is looking to hire an emerging markets equity manager to oversee a $1.5 million mandate. According to the RFP issued by the Tennessee plan, it will consider both active and passive products in the search.

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