The Massachusetts Water Resources Authority Retirement System is preparing to issue an International Equity search, according to materials from the February 29, 2024 Board meeting.
The search preparation follows a review of the funds international equity structure presented by NEPC, where they recommended moving to a “Core” - “Satellite” approach, where the structure would be 50% active and 50% passive.
NEPC will assist the board with the RFP.
As of January 31, 2024, the $677 million pension fund allocates approximately 16.4% to international equity with a target of 19%. Furthermore, the international equity portfolio is allocated to Select Equity Group, Schroders, and Baillie Gifford.
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