San Joaquin County Employees' Retirement Association, Stockton, Calif., plans to conduct a search for an active emerging markets manager this year.
Minutes from the $2.8 billion pension plan's Dec. 14 board meeting show the search is being recommended by the plan's investment consultant, Pension Consulting Alliance, because of "concerns about country exposure." Pacific Investment Management Co. runs roughly $100 million on behalf of the plan in active emerging markets.
There is no specific timeline for the search because this is just exploratory at this time, said CEO Johanna Shick.
Ms. Shick added that interested managers should contact PCA.