Equity
Global value hire will replace the plan’s existing passive global core equity mandate with Northern Trust Asset Management.
The searches will go live on May 2.
Plan staff and general investment consultant Verus will conduct on-site due diligence of the four firms.
Credit and venture capital commitments were made with three existing managers yesterday.
Plan will hear preliminary results of an annual asset/liability study next month and make recommendations for any changes to the portfolio in June.
The firm will cease investment operations on June 30.
The plan’s emerging-manager-of-managers is replacing an international equity firm due to a personnel change.
The plan does not currently have a dedicated manager for emerging markets equity.
The trust fund will consider active management for U.S. small-cap and international developed markets equities.
Plan is searching for emerging markets and international equity managers.
