New Mexico Public Employees Retirement Association's investment committee is expected to recommend contract extensions for three of its managers and a full redemption of Wellington Real Estate Investment Trust at the board's Jan. 27 meeting, said Joelle Mevi, chief investment officer for the Santa Fe-based $11.8 billion association.
The recommendations include extending for two years RBC Global Asset Management, which runs $200 million in active domestic small-cap growth equities, and TimesSquare Capital Management for its $220 million active domestic small/midcap growth equity portfolio. Both managers' contracts expire March 31.
Also recommended is a four-year extension of Eaton Vance Investment Managers' contract to run $200 million in active emerging markets equities; the manager's contract expires June 30.
The recommended redemption of the $54 million in the Wellington REIT is because of an upcoming change in portfolio managers in April or May. Alternative investment consultant Cliffwater assisted.