J.C. Penney Co., Plano, Texas, will consider adding an emerging markets mandate for its pension fund during the first half of 1998, said Michael Dastuque, financing projects manager.
The $3 billion fund probably has less than 1% of its total assets in emerging markets via current international managers, which are allowed to invest in the asset class, he said. A new mandate would probably total $25 million to $30 million. A manager probably won't be hired for at least six months.
Frank Russell is assisting.
