Recently released minutes from the May 20 Board meeting share updates to the Massachusetts Bay Transportation Authority Retirement Fund International Small Cap Portfolio.
The Board approved the termination of international small-cap equity manager, Principal Global Advisors.
The Board of the $1.7 billion Retirement Fund also approved a $30 million allocation to the Eaton Vance International Small-Cap Strategy.
As of May 31, 2022, Massachusetts Bay has 13.6% allocation to international equities. The target allocation to international equities is 16%.
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