Chicago Public School Teachers' Pension & Retirement Fund placed EARNEST Partners on watch for its $165 million active emerging markets equity portfolio.
The $11.2 billion pension fund's board placed the manager on watch Thursday due to performance concerns, said Angela Miller-May, chief investment officer, in an email.
EARNEST Partners also runs $549 million in active international developed markets equities for the pension fund. That portfolio is not affected, Ms. Miller-May said.
Kevin Pope, EARNEST Partners spokesman, could not be immediately reached for comment.
As of June 30, the overall allocation to international equities was 28.9%.
Investment consultant Callan assisted.