Alaska Permanent Fund Corp., Juneau, continues to search for a growth...

Alaska Permanent Fund Corp., Juneau, continues to search for a growth manager, according to Jim Kelly, director of communications for the fund. The fund expects to go through the preliminary hiring process during the summer and hopes to have finalists in time for its September board meeting. The board of the $26.3 billion fund also modified the existing mandates for two global equity managers. UBS Brinson, which manages $841 million for the fund, and Lazard Freres, which manages $1.56 billion, were given the authority to invest no more than 5% of their portfolios in emerging markets. Their benchmark was the EAFE index; the MSCI EMF index is the new benchmark. The board also approved changes in international fixed-income mandates. Julius Baer, which manages $238 million, and Rogge Global Partners, which manages $319 million, will be allowed to invest in emerging markets countries outside the Salomon Brothers World Government Bond index. Each will be limited to investing no more than 20% of its total portfolio in emerging markets and no more than 5% of its total portfolio in any one country.