New Mexico Educational Retirement Board, Santa Fe, expects to launch an RFP next month for an emerging markets equity manager to handle a $394 million portfolio, said Bob Jacksha, chief investment officer for the $10.9 billion pension fund.
Robeco currently manages the portfolio; its contract expires March 31, 2015. Robeco will be invited to rebid. Further information was unavailable by press time.
The pension fund also adopted a new asset allocation that reduces absolute return by three percentage points to zero; equities, two percentage points to 35%; and fixed income, one percentage point to 28%. At the same time, the plan increased private equity by three percentage points to 11%; real estate, two percentage points to 7%; and real assets was increased one percentage point to 8%. The risk parity and global asset allocations remain at 5% each, and cash stays at 1%.
Separately, the board added water investments to its natural resources investment policy. The pension fund has $86 million invested in natural resources.
Pension fund officials made an additional $10 million commitment to a private equity portfolio managed by Z Capital Partners, bringing total commitments to $50 million.
