Oklahoma Municipal Retirement Fund, Oklahoma City, is expected to hire two active international equities managers at its Oct. 31 board meeting, said Jodi Cox, executive director and CEO, in an e-mail.
The retirement fund expects to select one emerging markets equity manager and one active international core equity manager with a growth tilt for its $474 million defined benefit and $280 million defined contribution plans.
Allocation sizes have not been determined. Funding will come from Baring Asset Management’s active international growth equity strategy after it was terminated in August due to a possible restructure of the international equity portfolio. Barings oversaw about $26 million in a separate account for OMRF’s defined benefit plan and about $7.5 million for its 401(a) defined contribution plan.
It is expected that a total of six candidates, three from each category, will be selected for finalist presentations.
Ms. Cox declined to name the firms currently being considered.
All inquiries should be directed to Asset Consulting Group, OMRF’s investment consultant.