Domestic Equity
The deferred compensation fund hired a new domestic large-cap value equity manager at today’s meeting.
The retirement fund replaced its small-cap value and small- to mid-cap growth mandates with a pair of core managers last month.
The pension plan added three new managers to its equity portfolio last week.
The pension fund will become the initial investor in a new domestic mid-cap value equity strategy.
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.
The deferred compensation plan replaced its domestic large-cap value equity manager in the fourth quarter.
The hire concluded a domestic small-cap value equity replacement search from earlier this year.
The plan moved more than $70 million into passive strategies at its February meeting.
The state deferred compensation fund previously authorized a search to replace an underperforming incumbent in January.