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 $95 million was withdrawn from Adelante REIT.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.