Equity
The firms plan to form a joint venture combining their cash equities and equity research businesses to provide investment insights into the American, European and Asia Pacific equity markets as well as liquidity access and leading global trading technology.
The institution approved a new passive equity index investment with a diverse manager this summer as part of its commitment to promote diversity, equity and inclusion internally and through its selection of investment managers.
The plan’s investment consultant will continue to monitor the strategy’s short- and long-term performance.
The fund added a global equity investment with a newly operational firm this week.
The plan will interview two U.S. small-cap value equity managers this week and also recently added an international equity manager.
The plan moved an additional $30 million to an active equity manager hired over the summer.
The plan will also target more $720 million to alternative funds in 2023.
The fund added the domestic small-cap equity manager to its watchlist this summer due to underperformance and will review the firm next year.
The plan will seek board approval to terminate a high-yield fixed-income manager and an emerging markets equity manager.
The plan will begin with a mid-cap growth equity manager search in January.