Equity
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.
The firm is launching a global value fund to run in parallel with its flagship strategy.
The plan is potentially looking to replace its international developed markets equity manager.
The search is for active large-cap, small- to mid-cap and small-cap equity managers.
The pension plan hired the manager as part of a new domestic equity structure.
The divestments stem from New York State Comptroller Thomas DiNapoli’s Climate Action Plan.