Domestic Equity
The pension plan has replaced its domestic core-plus fixed-income manager due to personnel changes and underperformance.
The pension plan has replaced its incumbent domestic small- to mid-cap value equity manager, which had been on watch.
The plan recently terminated three equity managers and made private markets commitments totaling $95 million.
The plan launched two manager searches after approving a new asset allocation last month.
The city’s OPEB and scholarship plans are also searching for a U.S. small-cap core equity manager.
The plan’s outsourced cio hired global large-cap growth equity and Russell 2000 Index fund managers in the first quarter.
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
The pension plan agreed to consider replacing its domestic large-cap core equity manager due to underperformance and a recent personnel change.
The plan is seeking firms to manage a total of $100 million.
The retirement system made domestic mid-cap growth and value equity manager changes this month.