US - The US$64.5bn Ohio Public Employees Retirement System has tendered for a maximum of four investment managers to manage up to US$900m in active non-US equity and emerging markets mandates.
OPERS is looking for one to two active non-US equity value managers to manage a total US$300-600m in assets and a further one to two active emerging markets managers to manage US$100-300m.
The fund said the active non-US equity value mandates would be benchmarked to the MSCI All Country World Index Free excluding the US Index (MSCI ACWIFxUS) with the MSCI All Country World Index Free excluding the US Value Index (MSCI ACWIFXUS Value Index) as the secondary benchmark.
The active emerging markets manager or managers will be measured against the MSCI Emerging Markets Free Index (MSCI EMF Index).
Deadline for the non-US equity value tender is July 22 and deadline for the emerging markets tender is July 15.
Ennis Knupp and Associates advising on the search process.
OPERS said the mandates should be funded by November or December this year.
The fund’s asset allocation stands at 48.2% US equity, 22.4% global bonds, 23% non-US equity, 5.4% real estate, 0.6% private equity, 0.4% operating cash.
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