Domestic Equity
The retirement system terminated an equity manager that handled two mandates yesterday.
The plan is searching for a replacement for an underperforming incumbent.
Marty LaPrade was the lead portfolio manager on the firm’s U.S. large-cap growth equity strategy.
The plan hired domestic small- to mid-cap growth and value equity managers at a meeting today.
The pension fund swapped domestic mid-cap value equity managers due to underperformance from the incumbent.
The plan is considering replacing an underperforming domestic equity manager and is also asking for a list of potential private equity options.
The pension system is scheduled to hear a proposed U.S. equity structure this week that would concentrate assets with a “fewer number of higher conviction strategies currently in the portfolio.”
The retirement fund also terminated a Russell 1000 Growth Index fund manager today.
The plan’s current domestic equity portfolio includes small- to mid-cap growth and small-cap value mandates.
The retirement system is seeking a firm to handle between $10 million and $15 million.