Subject: A pension fund is looking to allocate $2bn to active emerging markets equity managers
From: "Claire Willett | Trusted Insight" <[email-masked]>
To: "Hunter" <[email-masked]>
Date: Mon, 19 May 2014 10:06:25 +0000

Plus, Michigan Endowment gets bullish on Asian real estate funds, and a city pension narrows its emerging manager short list.

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** Trusted Insight Searches & Hires
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** A pension fund is replacing its active domestic large cap managers with passive managers
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Staff believes that it is not possible over the long term for active managers in the most liquid and most frequently traded asset classes – large cap equity – to achieve performance better than that of a passive manager. The Board has four active managers remaining in the domestic large cap space.
Get more information (https://thetrustedinsight.com/profile/firm/7408/)

**
A pension fund is looking at Industry Capital and Clarion LIT Partners
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For its Industrial-Focused Non-Core Real Estate Investment Management Services

Get more information (https://thetrustedinsight.com/profile/firm/14358/)

**
A pension fund adds Mondrian to its Emerging Manager shortlist.
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Despite Mondrian's poor performance in 2013, and its refusal to grant perfomance-based fees.
Get more information (https://thetrustedinsight.com/profile/firm/14063/)

**
LACERS commits $25mn to Palladium
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It's also mulling a shift in asset allocation.
R (https://thetrustedinsight.com/profile/firm/14063/) ead the story (https://thetrustedinsight.com/news/show_news/7359/)

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Saudia Arabia's Public Pension Agency Plans to Increase Real Estate Investments
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"We are open for more investments in real estate. We are open for any good investment opportunity," Kharashi said. Read the story (https://thetrustedinsight.com/news/show_news/7307/)

**
UD switches endowment to Northern Trust
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The state's flagship university has chosen Chicago-based Northern Trust, a large wealth and asset manager with offices in Delaware. The move does not end the university's business relationship with Wilmington Trust, according to a UD spokeswoman. Read the story (https://thetrustedinsight.com/news/show_news/7366/)

** A pension fund is looking for Active Emerging Markets Equity Managers.
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Approximately $2.0 billion is projected to be allocated to Active EME, and multiple managers may be hired. Respondents with multiple products  are invited to apply, but separate responses must  be received for each product submitted. Current providers (excluding Emerging Markets Small Cap Equity)  are required to re‐bid for their existing mandates.
Get the RFP (https://thetrustedinsight.com/profile/firm/8306/)

**
A city pension fund narrows its Emerging Markets Equity Manager shortlist:
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* Dimensional Fund Advisors
* JP Morgan Investment Management
* Oaktree Capital Management
* Quantitative Asset Management

3 of these firms have managers on Trusted Insight. Care to connect?  (https://thetrustedinsight.com/profile/firm/28667/)

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Watchlisted:
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* A state investment committee watchlists Wellington EMD and PIMCO (http://www.vermonttreasurer.gov/sites/treasurer/files/pdf/retireVPIC/board/AgendaVPIC4.22.14MTNG.pdf)
* A pension fund watchlists Schroders (http://www.ocers.org/pdf/public_meetings/2014/043014inv/043014inv_agenda.pdf)

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U Michigan commits to two Asian funds
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They are CDH Fund V, L.P., a private equity partnership based in Beijing, and Fudo Capital Ill, L.P., a real estate fund based in Hong Kong. The University also commited to Los Angeles-based LBA Realty, and hopes to commit further capital to Lime Rock Partners (https://thetrustedinsight.com/news/show_news/7384/) .
Read the story (https://thetrustedinsight.com/news/show_news/7383/)

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Chicago Transit Allocates $20mn To Jamestown Premier Property Fund, Defers Action on UBS
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On motion by Mr. Denard, seconded by Mr. Sidrys, the Trustees approved the allocation of $20 million to the Jamestown Fund, and deferred action on the UBS fund, in order to collect additional information. Read the story (https://thetrustedinsight.com/news/show_news/7311/)

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Yale Endowment Quadruples Vanguard ETF Shares
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According to a 13-F filed by CIO David Swenson on Thursday, the University purchased 2.46 million shares of Vanguard FTSE Emerging Markets ETF in Q12014. Previously, it held 686,000 shares. Read the story (https://thetrustedinsight.com/news/show_news/7404/)

** Quote of the week courtesy LA Fire & Police, regarding decision to renew MacKay Shields despite 4 years of sub-benchmark performance:
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The risks and returns of high yield bonds are asymmetric. Or to put it another way losses can be much bigger than the gains. In an environment where lower quality bonds do not yield much more than a higher quality bond, a higher quality portfolio will lag the return of the index...However Staff thinks that this is a worthwhile trade off.

The full report is worth a look (https://thetrustedinsight.com/news/show_news/7372/)

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Thank you for reading! If you have suggestions, tips, or other feedback on TI Searches, please let us know!

Regards,
Claire Willett

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