Oklahoma City Employee Retirement System hired Harding Loevner to run an active international growth equity mandate, confirmed Rena Hutton, pension manager of the $516 million system.
The retirement system’s board will decide in April or May on the size of the account as well as sizes for contracts awarded last month to Vontobel Asset Management and Wasatch Advisors for active emerging markets equity.
Funding for all 3 new managers likely will come from current international equity or domestic large cap managers, Ms. Hutton said in a telephone interview. Retirement system officials haven’t decided on whether current international equity managers Artio and GMO will be terminated or have their portfolios reduced. According to the retirement system’s latest annual report, Artio ran $23.1 million as of last June while GMO managed $24.9 million.
Baring Asset Management and William Blair were the other finalists in the international growth search.
Asset Consulting Group assisted.