Idaho PERS Terminates Emerging Markets Manager

The Public Employee Retirement System of Idaho has terminated the Genesis Emerging Markets equity account, according to meeting minutes from the May 16 board meeting. 

The Genesis account had a market value of approximately $337 million as of June 30, 2022.

The Board used this event as an opportunity to rebalance the overall fund. $95 million was withdrawn from Adelante REIT. $65 million of which will be used to meet cash needs. The remaining $30 million in addition to proceeds from the Genesis account will be reallocated to IEMG ETF managed by State Street.

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Written By: Koncheng Moua, Director of Data Management and Strategy

Koncheng Moua is the Director of Data Management and Strategy at Dakota.