Mass Water Preparing International Equity Search

The Massachusetts Water Resources Authority Retirement System is preparing to issue an International Equity search, according to materials from the February 29, 2024 Board meeting.

The search preparation follows a review of the funds international equity structure presented by NEPC, where they recommended moving to a “Core” - “Satellite” approach, where the structure would be 50% active and 50% passive.

NEPC will assist the board with the RFP.

As of January 31, 2024, the $677 million pension fund allocates approximately 16.4% to international equity with a target of 19%. Furthermore, the international equity portfolio is allocated to Select Equity Group, Schroders, and Baillie Gifford.

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