San Bernardino County Employees' Retirement Association board Thursday committed $90 million to three emerging markets debt managers, said Nicole Dailey, spokeswoman for the $6.2 billion fund in an e-mail.
The board committed $30 million each to GAM Emerging Market Rates Strategy; BlueBay Emerging Market Select Bond Fund; and Gramercy Master Custodial Account.
The board also restructured SBCERA's $235 million emerging market debt portfolio to allow Ashmore Investment Management to invest in a broader set of investments at “a significant discount to our pricing model,” Ms. Dailey wrote. The new structure allows Ashmore to allocate across several emerging market debt segments, including debt, currencies, equity and alternatives, she added.
Further information could not be learned