Domestic Equity
The retirement system retained its equity manager and let go of its incumbent fixed-income manager.
The asset classes were recommended by the OPEB trust’s new general investment consultant.
The plan appears to have terminated its active domestic large-cap equity manager in the second quarter.
The manager hire concludes a domestic all-cap equity index manager search, which the program launched in March.
The retirement system will conduct a full search for emerging managers-of-managers after reviewing a consultant presentation on available options at today’s meeting.
The retirement system authorized its cio to terminate several public markets investments last month.
The plan also removed a manager from the watch list.
The plan hired its incumbent for a new seven-year term.
The two manager terminations stem from underperformance, asset outflows and high fees.
The plan also appears to have reissued its private markets consultant RFP.