Domestic Equity
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.
General investment consultant CAPTRUST Financial Advisors will return with three or four candidates to replace an incumbent manager in the coming months.
The plan is searching for domestic large-cap equity managers to handle up to $30 million.
Plan concluded searches for domestic large-cap growth and value equity managers without making any changes.
The plan is seeking a domestic large-cap value equity manager to handle roughly $18 million.
