Domestic Equity
The pension plan also made a private equity commitment for pacing purposes last month.
The pension plan terminated two domestic equity managers in the second quarter.
The retirement system recently replaced its domestic large-cap value equity manager due to underperformance.
The retirement system shifted its active domestic large-cap growth equity mandate to an existing index fund investment.
The pension fund has issued an RFI seeking local managers offering active equity strategies.
The plan’s investment committee previously narrowed a search to two recommended hires following finalist interviews held earlier this month.
The retirement system approved the search at last week’s board meeting due to an upcoming contract expiration.
The plan placed one manager on formal watch and terminated another.
The plan terminated a domestic mid-cap core equity manager due to organizational and performance issues.
The search is due to performance concerns with the retirement system’s two incumbent large-cap value managers.
