New York State Deferred Compensation Plan, Albany, is adding the Pax Global Environmental Markets Fund to its investment lineup, said David Fischer, executive director, in an email.
The $21.8 billion 457 plan's board at its Dec. 8 meeting approved hiring Pax World Management for its ESG fund. It is a new option for the plan, which issued an RFP in June for an environmental, social and governance manager that runs active global and domestic equities.
The plan also rehired Fidelity Investments to run $2.7 billion in active opportunistic growth U.S. equities through its Fidelity OTC portfolio. The plan issued this RFP in June as well, and the new 10-year contract is set to begin on April 1, 2018.
Mr. Fischer says the plan does not disclose finalist information.
Investment consultant Callan assisted.