Domestic Equity
The plan hired two new managers and retained three at a board meeting this week.
The pension plan replaced its domestic large-cap value equity manager in the fourth quarter due to underperformance.
The retirement trust terminated its sole active large-cap equity manager last month for performance reasons.
The potential move comes as the strategy’s portfolio manager recently retired.
The domestic large-cap growth equity manager had been on watch due to underperformance.
The plan approved the search at a board meeting earlier this week.
The retirement system has issued separate RFPs for small-cap value and small-cap growth managers.
The retirement system swapped out managers for its roughly 3% target to the asset class.
Plan is considering the addition of a domestic small- to mid-cap core equity manager to its portfolio.
The internal investment pilot is part of the board’s efforts to enhance investment outcomes.