A shortlist search was launched in April because Wilshire’s contract was due to expire Aug. 31.
Separately, the pension fund terminated Aberdeen Asset Management as a global equity manager. A reason for the termination was not provided. However, the manager had been on watch for performance since April. An Aberdeen spokeswoman could not be reached for comment by press time. As of July 31, Aberdeen managed about $78 million in global equity for the pension fund.
Northern Trust was hired as a transition manager as a result. Funds are expected to be transferred to an index fund that “closely tracks the MSCI All Country World Investible Market index,” the minutes said. Further details could not be learned by press time.
Cheryl Alston, executive director of the $3.4 billion pension fund, could not be reached for additional information by press time.