Domestic Equity
The program will also invite its domestic mid-cap growth equity manager to present at a future board meeting with the intent of placing the firm on watch due to underperformance.
The deferred compensation plan also received proposals from Fiduciary Consulting Group, NFP Retirement, SageView Advisory Group and USI Consulting Group.
The plan is seeking a fund-of-one structure to manage an initial 3% of its long-term 7% target to the asset class.
The retirement system also made several changes to its public equity and real estate portfolios last week.
The retirement system will also consider several changes to its public equity and real estate portfolios this week.
The $50 million investment concludes a search for an additional long/short strategy initiated late last year.
The search is being conducted to potentially replace un underperforming incumbent.
The plan previously had the portfolio in a Standard & Poor’s 500 Index fund.
The retirement system has issued its RFP seeking a U.S. small- to mid-cap equity manager to handle approximately $60 million.
The 529 plan added a domestic mid-cap value equity strategy and swapped responsible equity investments at a meeting last month.