Domestic Equity
The plans added a sustainable equity manager to their lineup in October after initially receiving an ESG/socially responsible product analysis search book in April.
The pension plan liquidated its approximately $210 million domestic small- to mid-cap growth equity and made commitments totaling $120.5 million in November.
The asset allocation changes resulted in several manager hires and terminations at the retirement system’s November meeting.
The co-founder of a small-cap growth specialist firm died last month due to complications from a previous illness.
2023 was supposed to be a down year for foundations and endowments with a potentially recessionary environment, however, equity and bond returns came out in the green, thanks in part to strong fourth quarters, leaving investors and allocators with a more optimistic outlook for their portfolios entering 2024.
The plan selected two firms in its infrastructure manager search.
The deferred compensation plan recently made several changes to both its equity and fixed-income portfolios.
The fund concluded searches launched in January.
The hire concludes a search to replace a current underperforming manager.
The RFPs were approved at last month’s board meeting.