Norfolk Adds to Global Equity and Small Cap Managers

The Employees' Retirement System of the City of Norfolk has hired J. Stern & Co to be their new Global Equity Manager per meeting materials from the March 6 board meeting.

J. Stearn will replace SSgA ACWI IMI Index in the Global Equity lineup. They will manage $57 million in active global growth equities, representing 4.5% of the retirement portfolio.

Additionally, the Retirement System is redeeming 1% from the core fixed income portfolio and investing proceeds to the Fidelity Small Cap Index.

Meketa assisted.

As of January 31, the Retirement Fund was valued at $1.28 billion.

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