Domestic Equity
The fund extended the watch list status for one of its domestic equity managers during its August board meeting despite improved performance over the last three quarters.
The retirement system agreed to launch an evergreen private debt manager search and terminate three managers as part of a new asset allocation policy.
The plan’s micro-cap manager will now manage small-cap mandates.
The plan will interview finalists in November.
The pension plan has issued a general investment consultant RFP due to an upcoming contract expiration and will launch an active domestic large-cap value equity manager search as part of a portfolio structure review.
The pension plan shifted its emerging manager program to a U.S. small-cap equity mandate to increase its chances of achieving excess returns.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The plan is seeking small- to mid-cap growth and value equity managers as it considers a streamlining of its domestic equity portfolio.
The plan will also receive an infrastructure search report next month.
The decision came as the firm’s performance has been a drag on the plan’s return.