The New York State Common Retirement Fund, Albany, has sacked Franklin Templeton from a $920 million emerging markets equities portfolio, Pensions & Investments reports. Franklin Templeton lost the mandate in July because of underperformance. Additionally, the system appropriated an additional $500 million to domestic equity manager Aronson Johnson Ortiz and will invest an additional $450 million with Hines HCP Hines Corporate Properties II. The retirement fund offers retirement, disability, and death benefits and also provides services to police and firefighter personnel.

Click here for the story from Pensions & Investments.