The approximately $23.5 billion Oregon Public Employes' Retirement System, Salem, has begun reviewing the benchmark it uses for measuring the performance of its $4.3 billion in international equities. The fund uses the MSCI EAFE index, but ``there is a general belief that EAFE is not the best benchmark,'' said Jay Fewel, senior equities investment officer. He said the fund discussing moving away from EAFE to another benchmark that is more representative of the international marketplace in its entirety.''
He said fund officials expect to come up with a recommendation by the end of the month. The review is part of Oregon's broader periodic examination of international equities.