Equity
The trust funded the hires through the termination of two existing large-cap equity managers.
A trust fund based in a Western state has added a new global equity manager to its portfolio.
The pension system increased private equity and infrastructure and real assets following changes approved this week.
The search is due to portfolio manager changes and underperformance by the incumbent.
The pension fund swapped out an active large-cap value equity mandate for a passive one in the second quarter.
The retirement board was also expected to hire a new manager in its domestic small- to mid-cap growth equity manager search.
The pension fund’s outsourced cio disclosed a pair of manager removals in the first quarter.
The plan began a replacement search for a domestic mid-cap equity manager terminated last quarter.
The institution added new developed markets, emerging markets equity and hedge fund strategies within its investment portfolio during the first quarter following several redemptions from existing managers.
The retirement system has issued three RFPs for domestic large-cap and international value and growth equity managers.
