Alaska Retirement Management Board, Juneau, placed Baillie Gifford on watch for the $380 million active international equity portfolios it manages for the board's pool of non-participant-directed assets.
The board's investment staff placed the manager on watch due to underperformance, according to materials for its upcoming Dec.1-2 board meeting.
Officials at Baillie Gifford could not be immediately reached for comment.
The board approved a search in June for active international equity managers to run a total of $822 million. According to upcoming board meeting materials, staff placed incumbent manager Baillie Gifford on watch in September.
As of Oct. 31, the other incumbent international equity managers were Brandes Investment Partners ($602 million in pool assets), Arrowstreet Capital ($541 million) and Capital Guardian Trust ($416 million), according to board meeting materials.
The board oversees the management of a total of $37.7 billion in defined benefit and defined contribution plan assets, including the $21.8 billion Public Employees' Retirement System and $10.2 billion Teachers' Retirement System.
Zachary Hanna, the board's chief investment officer, and Alysia Jones, liaison officer, could not be immediately reached for further information.