San Francisco City & County Employees’ Retirement System is searching for a manager to run $100 million to $300 million in active emerging markets equities, confirmed Norm Nickens, executive assistant to the executive director.
The $15.1 billion system will partially fund the hire from the $18 million taken from emerging markets equity manager Ashmore Investment Management, which was terminated for performance last week. The remainder will come from ETFs, according to Mr. Nickens, who added that no ETF managers will be terminated.
Last week, Ashmore spokesman Andrew Yemma said the company would have no comment.
The RFP can be found at http://sfers.org/index.aspx?page=67. Proposals are due at 11:59 p.m. PDT May 4. Finalist presentations are scheduled for June 23-24, with a decision expected July 12.