By Muskan Arora
The $18.8bn Ohio Police & Fire Pension
Fund is beginning its search for an international small-cap equity manager.
Consultant Wilshire and staff plan to
conduct a “targeted RFP process” to exclusively include the consultant’s
highest scored managers, said spokesperson David Graham.
This search comes in following the
termination of Barings, an international small cap equity manager on the system’s
roster.
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In the last week’s announcement, the system
stated performance, decline of assets in the strategy, and declining conviction
in the team and investment process as the reasons for the termination.
Earlier this year, the manager was
downgraded by the board and investment committee, which meant that Barings would
be reviewed every quarter following the March meeting.
Barings came on board in July 2021, and since
inception, has been performing below its benchmark.
OPFPF allocates 13.8% to its international
equity sleeve against a long-term target of 12.4%.
