The California Public Employees’ Retirement System (CalPERS) has reappointed 16 external managers for its $123.3 billion global equity portfolio, Global Pensions reports. The contracts have been renewed for one year but the CalPERS board will have the power to dismiss a manager within 30 days.
The portfolio invests 44.6 percent in domestic equities, 45.1 percent in developed market equities and 10.3 percent in emerging markets. The managers re-hired include Boston Co., First Quadrant, J.P. Morgan, Arrowstreet, Baillie Gifford, GMO, Nomura Holdings, Alliance Bernstein, Dimensional Fund Advisors, Genesis, Lazard and Pictet among others.
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