The Marin County Employees Retirement Association hired State Street Global Advisors to manage the passive MSCI World ex-U.S. Index lending equity portfolio, according to materials from the December 6th Board meeting.
MCERA previously approved a 50% passive non-us developed, 25% active non-us small cap, and 25% active emerging markets structure. BlackRock was also being considered for the passive allocation. TimesSquare manages the active non-us small cap mandate, and FIAM manages the active emerging markets mandate.
MCERA has a target allocation of 22% to non-U.S. equity with an actual allocation of 20%
Investment consultant, Callan, assisted.
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