The Oklahoma Municipal Retirement Fund has hired Axiom for an emerging markets equity mandate.
Axiom will replace Harding Loevner. The Board previously approved terminating Harding Loevner Emerging Markets strategy at the October 28 meeting. Minutes from the October meeting cite Harding Loevner’s communication regarding exposure to Russia as a reason for the termination. As of October 31, 2022, the Harding Loevner Emerging Markets account was valued at approximately $20.3 million.
Aberdeen, Allspring, and Macquarie were also considered for the search.
Investment consultant, Asset Consulting Group, assisted with the replacement search.
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