The termination comes after the plan reduced its risk parity allocation as part of a new policy approved in April.
The town will issue an RFP for investment management services to “see what else is out there” after working with its incumbent since 2014.
The new stable value fixed-income manager replaces the plan’s underperforming incumbent.
The city will vote on a recommendation to hire an investment advisor for its short and long-term investments next month.
The plan voted to consolidate its global equity portfolio to three managers from four at a board meeting today.
The city retained its incumbent firm to provide investment management and advisory services for a $500 million portfolio.
The retirement system is searching for a private equity investment officer to join its team.
The plan voted to consolidate its global equity portfolio to three managers from four at an investment committee meeting today.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The city has issued an RFP seeking advisory and consulting services on behalf of its retirement plans.