Seattle City Replaces Emerging Market Debt Manager

The Seattle City Employees’ Retirement System has hired PIMCO as the new Emerging Market Debt manager.

PIMCO replaces Ashmore Emerging Markets Blended Debt strategy. According to meeting minutes from the March meeting, the Ashmore account was fully redeemed with performance and fees as part of the reason for the redemption.

The Ashmore account was valued at $51 million as of February 28, 2023.

Funds will be reallocated to the PIMCO Emerging Markets External Bond Collective Investment Trust.

NEPC assisted with due diligence.

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