Domestic Equity
The pension plan will consider hiring two domestic large-cap growth equity managers later this month as part of an ongoing shortlist search.
The plan is seeking passive large-cap equity providers and is also interested in firms with passive small-cap offerings.
The plan concluded a domestic large-cap growth equity manager search in the second quarter.
The trust split its domestic large-cap value equity allocation with an additional manager hire last quarter.
The plan’s incumbent domestic large-cap growth equity manager had been on watch due to underperformance following the departure of its portfolio manager.
The retirement system’s general investment consultant will return to next month’s board meeting with an international small-cap equity search.
The pension plan’s current manager was hired in 2016.
The plan has issued RFPs seeking an active core fixed-income manager as well as index managers.
The fund approved the search last month to survey the market for pricing and services as the incumbent has been providing the services since 2006.
The pension plan hired a new domestic small-cap growth equity manager to replace its incumbent due to underperformance.