Equity
The deferred compensation fund hired a new domestic large-cap value equity manager at today’s meeting.
The pension plan added three new managers to its equity portfolio last week.
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.
The retirement system will allocate $450 million with the new international equity manager.
The deferred compensation plan replaced its domestic large-cap value equity manager in the fourth quarter.
The hire concluded a domestic small-cap value equity replacement search from earlier this year.
The investment board also hired a new international growth equity manager.
The pension plan also adopted a new asset allocation policy for its $141.8 billion Core Trust Fund last month.
The state deferred compensation fund previously authorized a search to replace an underperforming incumbent in January.
The retirement system hired a new international large-cap core equity manager for diversification purposes last month.