APFC Names Finalists for Emerging Market equities Search
The APFC announced that four emerging market equities mandates have been awarded, concluding a manager search which began in May, 2013. The mandates are for $100 million each, and funding is underway with a target completion date of November 29. Selective rebalancing within existing mandates will provide the funds for the new mandates, and no managers were terminated.
Staff recommended the search based on the strong core nature of the portfolio, citing a need for additional emerging market managers to increase the diversification of the Fund’s holdings. The finalists and their style tilts are as follows:
Lee Munder Capital Management