Domestic Equity
The institution will come back with a recommendation on how to redeploy the assets from recently terminated public equity and hedge fund managers at a future meeting.
The plan made a U.S. small-cap value equity manager hire at its November board meeting.
The plan will conduct on-site visits with five firms before presentations and selection slated for its March board meeting.
The university adjusted its investment policy to allow for increases to its equity portfolio following a recommendation from its investment advisor to diversify and enhance portfolio returns.
The plan’s incumbent was first hired in 1997.
The plan replaced its existing domestic small-cap value equity manager due to underperformance and organizational turnover.
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The fund has issued RFPs seeking equity and fixed-income managers.
The terminated manager was first hired in 1990.
The plan received a search report on potential replacements for its incumbent domestic large-cap growth equity manager this week.