Domestic Equity
The plan replaced its domestic mid-cap value equity manager, which had been on watch since January 2022 due to underperformance.
The plan expects to interview two finalists at its November investment committee meeting.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in May.
The plan conducted the searches due to mandates impacted by the Energy Discrimination Act of 2022.
The pension plan hired two domestic large-cap growth equity managers as part of an ongoing shortlist search and terminated two existing managers.
The plan approved the elimination of an active mid-cap equity mandate that had been on watch since last year.
The plan is looking to hire a small- to mid-cap growth equity manager to handle $85 million.
The plan is considering shifting its small- and mid-cap manager relationships as part of a broader discussion about the domestic equity portfolio.
The fund has narrowed its search for a new global equity manager for its portfolio to three finalists and selected a firm in its domestic large-cap growth equity manager search at its board meeting this week.
The plan last conducted a similar search in 2016.