Equity
The plans are reviewing recommendations to replace three existing managers.
The retirement plan’s incumbent manager was placed on watch today for performance and organizational issues.
The university made several re-up and add-on commitments with existing developed equity, hedge fund and private equity managers within its portfolio during the third quarter.
The plan will issue the RFP to evaluate the international growth equity landscape.
The search follows several personnel changes at its incumbent mid-cap growth manager, which has prompted concern from another pension fund.
The plan rehired two of its managers and terminated one as it wrapped up its search process at today’s meeting.
The retirement system terminated its active domestic large-cap growth equity manager last month due to underperformance.
The three firms are recommended for watch status due to underperformance.
The board hired domestic and international all-cap equity managers last quarter.
If approved, the new 20% global core equity allocation would require a search later this year.