Domestic Equity
The plan is seeking a replacement for Allspring Global Investments, which was terminated at the plan’s March 24 retirement commission meeting.
The plan hired a new domestic small- to mid-cap growth equity manager and will make potential changes to its long/short portfolio.
The plan approved a consultant recommendation to swap out its domestic small-cap core equity mandate due to a change in the firm’s investment process.
The plan will receive replacement options at its Sept. 7 board meeting.
Plan intends to complete domestic mid-cap value and growth equity searches by the first quarter.
The plan also slated domestic small-cap growth equity manager finalist interviews for its September meeting.
The board hired a new domestic mid-cap growth equity manager following finalist interviews held last week.
Termination shifts large-cap growth assets to a passive allocation in anticipation of investing in mid-cap equities for the first time.
The board terminated three managers to “harmonize” the equity portfolios between its plans.
The plan is looking for potential replacement managers due to asset outflows and personnel turnover at its incumbent.