Seattle City Employees' Retirement System hired ABS Investment Management to run up to $60 million in a Japanese equity portfolio.
The $3.5 billion pension fund's board approved the hiring of ABS to run its multimanager strategy focused on the Japanese equity market at its April 8 meeting, said Jason Malinowski, chief investment officer, in an email.
The portfolio invests in multiple Japanese equity specialist managers with the goal of outperforming the MSCI Japan IMI index.
As of Dec. 31, the pension fund's actual allocation to public equities was 51.6%; the target is 48%.
