Mississippi Public Employees' Retirement System, Jackson, is searching for an international small-cap core equity manager to potentially replace its current manager, Mondrian Investment Partners, which has been on watch since Feb. 28, according to public materials shared as part of the retirement system's board meeting Dec. 19.
"Based on performance, risk statistics, and fees, I believe there are options that better align with our long-term goals," said portfolio manager Ryan Holliday in a memo to Charles Nielsen, Mississippi PERS' chief investment officer.
Mondrian did not respond to a request for comment.
Mississippi PERS did not issue an RFP and will use the database of its investment consultant, Callan, for the search, Nielsen said in an email.
The anticipated size of the allocation is about $295 million to be assigned to a single manager, according to board meeting documents.
The board on Dec. 19 also approved a recommendation to remove Lazard Asset Management from its watchlist. The asset manager had been on watch since Sept. 30, 2020, according to meeting materials.
As of Oct. 31, Mississippi PERS had $30.4 billion in assets.