Equity
The deferred compensation plan has replaced its domestic large-cap core equity manager, which had been on watch due to underperformance.
The retirement fund also disclosed approximately $1.6 billion in alternatives commitments made in July.
The plan also terminated an emerging markets equity manager in June.
The plan also named four finalists in its global equity manager search.
The deferred compensation plan terminated two equity managers, which had both been on watch due to underperformance, in May.
The plan has four incumbent managers in the two asset classes.
The plan began searches for active domestic large-cap, small- to mid-cap and small-cap equity managers in February.
The plan also terminated three managers last week.
The county’s pension plan and OPEB Trust replaced their global core equity manager, which had been on watch due to underperformance, in May.
Global equity represents a new asset class for the retirement system.