Equity
The fund approved a search for domestic large-cap growth index managers at its board meeting last week to review pricing and see what others firms could provide the services as it has been utilizing the same manager since 2006.
The manager will fill maiden targets of 5% to international small-cap equity for each plan.
The deferred compensation plan hired two domestic equity managers to replace existing mandates with the same firm yesterday.
The review may lead to replacement searches for two incumbent managers.
The institution is searching for an investment manager for public markets to participate in all aspects of its investment process from identifying and evaluating new investment opportunities through conducting due diligence meetings with potential managers.
The plan will consider hiring two domestic equity managers to replace existing mandates with the same firm.
The retirement system also terminated an international growth equity mandate.
The plan’s incumbent was rehired in 2015 following a similar RFP process.
The retirement system conducted a similar search in 2016 when it rehired its incumbent manager.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in February.