Domestic Equity
The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.
The plan placed a domestic large-cap growth equity manager on watch at its Dec. 6 board meeting.
The retirement system hired Dimensional Fund Advisors to handle international value and domestic small-cap value equity mandates last quarter.
Active large-cap value and Wilshire 5000 index mandates were shifted into a Russell 1000 Index fund earlier this quarter.
The search is due to state regulatory requirements.
The university moved its endowment toward private equity, U.S. equity, global equity and hedge funds, as part of a new investment policy statement approved at its November meeting.
The decision comes after the plan had initially decided to go ahead with a search for emerging managers-of-managers last month.
The pension fund concluded a general investment consultant search by selecting its incumbent this week.
The retirement system retained its equity manager and let go of its incumbent fixed-income manager.
The asset classes were recommended by the OPEB trust’s new general investment consultant.