Plan added public markets and private equity investments at last month’s board meeting.
Plan intends to approve an RFP for a index fund provider next month and terminated a global tactical asset allocation mandate at today’s meeting.
Plan made several manager changes to its equity portfolio as part of a transition conducted by its new general investment consultant.
The plan appears to be seeking its first passive investments in equities and bonds.
A Rocky Mountain pension plan terminated its domestic small- to mid-cap core equity manager due to underperformance and personnel turnover.
The plan will begin a domestic small-cap growth equity search in the next couple of weeks to be followed by core bond and small-cap value searches.
Plan will review a domestic small-cap value manager at an upcoming meeting while its consultant takes an extra look at a bank loan manager.
The plan will interview to active, concentrated firms to potentially replace its existing large-cap growth managers.
The new structure results in three manager terminations.
The plan disclosed the terminations and commitments, which were previously approved in closed session.