AC Transit Retirement hires two EM managers

18 Jul 2011

AC Transit Retirement Board has hired Eaton Vance/Parametric and City of London to manage its emerging markets allocation, Mena FM can reveal. This follows a decision-making process of two months after the appointment of investment consulting firm NEPC earlier this year.

A total of 5% of the board’s portfolio (of around $40m) will go towards the new emerging markets allocations, which will be split in two across each of the new managers. According to Hugo Wildman, chairman of the AC Transit Retirement Board, the decision-making process was relatively easy.

“We liked them better than the others,” he told Mena FM. “This is our first investment dedicated to emerging markets.”