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.
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