Ohio Public Employees Retirement System, Columbus, is searching for active emerging markets equity managers, said Michael Pramik, spokesman, in an e-mail.
The $90 billion retirement system, which includes $77.8 billion in defined benefit plan assets, issued a request for information for active, long-only emerging markets equity managers, both all-cap and small-cap.
The search is being conducted “because we want to refresh our list of managers at a time when most managers in the emerging markets equity space have available capacity,” Mr. Pramik said. The search may or may not result in portfolio changes, he added.
The retirement system has a total of $2.3 billion in emerging markets all-cap equities and $823 million in emerging markets small-cap equities.
“We will review all managers since some funding of new managers may come from existing managers (partial or full funding). We maintain a portfolio of managers, and we seek a risk/reward balance across this portfolio — some managers do better in specific environments,” Mr. Pramik said.
Current external managers are Acadian Asset Management (both all cap and small cap), Baillie Gifford (all cap), Dimensional Fund Advisors (small cap), Lazard Asset Management (all cap), LSV Asset Management (small cap), Oldfield Partners (all cap), T. Rowe Price Group (all cap), Vontobel Asset Management (all cap) and Wasatch Advisors (small cap).
Interested managers must update their performance data through Sept. 30 on eVestment. Managers interested in the all-cap search should e-mail [email protected], and those interested in the small-cap search should e-mail [email protected]. The deadline for expressions of interest and questions is 5 p.m. EDT on Oct. 16.
The RFI is available on the pension fund's website.