Equity
The pension plan approved new structures for its infrastructure, non-U.S. equity and real estate portfolios last week.
The new manager will handle approximately $450 million.
The pension plan hired an all-cap core equity manager to handle two mandates within its international equity portfolio yesterday.
The plan’s upcoming search will not include its incumbents.
The board has been preparing to conduct the searches as it works toward a new asset allocation approved in 2021.
Market enthusiasm generated by the rapid development of new artificial intelligence products has may signal innovation and growth in the long term, though some of that enthusiasm may have led the markets to overvalue some public equity stocks or venture funds in the short-term, according to an outsourced cio.
The plan had been scheduled to issue the RFP for due diligence purposes.
The plan will consider new structures for its infrastructure, non-U.S. equity and real estate portfolios later this week.
The plan also approved a $50 million investment with a new manager within its public equity portfolio at its February board meeting.
The plan recently considered increasing its fixed-income target as part of an asset allocation study.