Domestic Equity
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.
The plan expects to hold finalist interviews in September as part of an ongoing manager search and approved changes to its equity manager target allocations yesterday.
The plan will also interview domestic large-cap growth managers next month, while the city’s Fire plan will interview emerging markets equity firms.
The plans placed Wellington Management Company on watch this week due to the upcoming retirement of a partner and equity research analyst.
Pension plan expects to review approving a search for international small-cap equity managers next month.
