Fairfax Ed slates global TAA shortlist hunt

Fairfax (Va.) County Educational Employees’ Supplementary Retirement System is conducting an invitation-only search for a global asset allocation manager to run up $300 million, said Alan Belstock, the board’s executive director. New England Pension Consultants is assisting. Funding will come from existing equity and fixed-income managers; no terminations are planned. The board voted on Tuesday to make the move to “improve risk-adjusted returns, broaden portfolio diversification and to improve portfolio returns in potential periods of subdued market returns,” Mr. Belstock said. A selection is expected by September.