Equity
The manager was placed on watch last year for underperformance.
The pension plan will consider potentially replacing its international small-cap core equity manager due to underperformance.
The deferred compensation plan recently made several changes to both its equity and fixed-income portfolios.
Somerset had been in advanced talks to transfer its top performing funds to a new investment advisor.
The pension plan liquidated an approximately $237 million global equity mandate and made commitments totaling $1.4 billion in October.
The plan’s current manager is on watch for performance reasons.
The plan will also issue RFPs for global fixed-income and domestic small-cap core equity managers.
The plan currently has two international small-cap equity managers.
The university has revised the investment policy statement for its investment portfolio, shifting its asset allocation toward domestic large-cap equities.
The RFPs will seek managers to handle 10 different strategies.