Domestic Equity
The retirement system agreed to part ways with an active manager that had been on watch due to lagging performance.
The search will be conducted to replace domestic large-cap value equity manager Hamlin Capital Management, which was terminated last month.
The retirement system is searching for a U.S. small-cap growth equity manager to handle a $40 million mandate.
The plan approved a new domestic equity structure that shifts the portfolio to 100% passive.
The retirement fund added domestic small-cap value and global low volatility equity managers to its watchlist in April.
The retirement system replaced an underperforming U.S. small-cap value equity manager last quarter.
The plan terminated its incumbent mid-cap core manager last month.
The plan also made two private equity commitments at its board meeting today.
The retirement system will also see its deputy executive director retire next week.
Plan staff intends to bring minimum qualifications in its domestic small-cap value equity manager search to the board next month.
