Domestic Equity
The retirement trust terminated its sole active large-cap equity manager last month for performance reasons.
The potential move comes as the strategy’s portfolio manager recently retired.
The domestic large-cap growth equity manager had been on watch due to underperformance.
The plan approved the search at a board meeting earlier this week.
The retirement system has issued separate RFPs for small-cap value and small-cap growth managers.
The retirement system swapped out managers for its roughly 3% target to the asset class.
Plan is considering the addition of a domestic small- to mid-cap core equity manager to its portfolio.
The internal investment pilot is part of the board’s efforts to enhance investment outcomes.
The search for each retirement plan is due to state statute requirements.
The deferred compensation plan is also slated to receive results in its active domestic core fixed-income manager search in May.