Under state law, the pension fund is required to replace service providers if they are determined to have made ESG commitments.
The board of the Maryland State Retirement and Penson System seeks three outside experts to assist the fund in achieving a sustainable portfolio.
The 14th and final tranche of asset transfers was valued at $1.6 billion, bringing IPOPIF assets to $12.9 billion.
Michalakis will leave his deputy CIO role at Hostplus and start at the South Australia investment manager in February 2025.
The former Western Asset Management Co. co-CIO is accused of making favorable trades for some clients at the expense of others.
Investors need to ask about managers’ controls and for ‘evidence’ they are being used, consultant says.