Massachusetts Housing Finance Agency Retirement System, Boston, rehired active emerging markets debt managers abrdn and MetLife Investment Management to split a $10 million portfolio.
The $249 million pension fund’s board approved the rehirings at its Aug. 13 meeting, recently released meeting minutes showed.
The pension fund issued an RFP in April for managers of blended strategies with both hard and local currency exposure.
At the August meeting, investment consultant Meketa Investment Group recommended staying with the incumbent managers and eschewing finalist presentations, according to the minutes. Meketa assisted with the search.
As of June 30, the actual allocation to emerging markets debt was 4.2%; the target is 4%. Also as of that date, abrdn managed $6 million and MetLife ran $4 million in the emerging markets portfolio.
