New Mexico Educational Retirement Board, Santa Fe, is expected to select two active international equity managers at its April 18 meeting, said Frank Foy, deputy CIO of the $9.1 billion fund. Each manager will run $375 million, one in value and the other in growth. Funding comes from a $750 million active international core equity portfolio run by Capital Guardian, which rebid. The change was made for diversification. Fidelity currently manages $750 million in active international core equities for the board.
Separately, the board is searching for a manager to run a $225 million active domestic small-cap growth equity portfolio, said Mr. Foy. The contract of incumbent Franklin Templeton expires Aug. 1; the firm is encouraged to rebid, Mr. Foy said. A selection is expected at the boards June 22 meeting.