Ann Arbor (Mich.) City Employees’ Retirement System hired GQG Partners for active management of $10 million in emerging markets equities.
GQG Partners replaced Vontobel Asset Management, which was terminated by the board of trustees in March 2016 due to personnel concerns.
Ann Arbor’s investment staff temporarily parked the assets in Northern Trust’s MSCI Emerging Markets Index Fund until a new active emerging markets equity manager was hired, said Wendy Orcutt, executive director of the $484 million pension fund. The Northern Trust passive fund will be liquidated to fund the GQG Partners’ mandate.
