Domestic Equity
The pension plan also made a private equity commitment in November.
The retirement system swapped out its domestic small-cap value manager in February.
The retirement fund placed domestic small- to mid-cap value and international small-cap equity managers on watch last month.
The plan replaced its domestic small-cap value equity manager in the fourth quarter due to underperformance.
The retirement system diversified its previously all-passive domestic large-cap equity portfolio with the addition of an active large-cap core mandate.
The deferred compensation fund hired a new domestic large-cap value equity manager at today’s meeting.
The retirement fund replaced its small-cap value and small- to mid-cap growth mandates with a pair of core managers last month.
The pension plan added three new managers to its equity portfolio last week.
The pension fund will become the initial investor in a new domestic mid-cap value equity strategy.
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.