Searches and Hires

San Luis Obispo County chooses Ashmore Group as emerging markets debt manager

San Luis Obispo County (Calif.) Pension Trust hired Ashmore Group to manage $70 million in an emerging markets debt strategy, said Carl Nelson, executive secretary and chief investment officer of the $1.3 billion pension trust.

The manager replaces Stone Harbor, which ran $66 million in an emerging markets debt strategy for the trust but was terminated after the pension fund board approved a change in the recommended currency type to a blended hard-currency/local currency strategy from a local currency-only strategy.

Investment consultant Verus Advisory assisted in this decision.