Equity
The county’s pension plan and OPEB Trust replaced their global core equity manager, which had been on watch due to underperformance, in May.
Global equity represents a new asset class for the retirement system.
The trust fund has hired an international small-cap equity manager over two other finalists following a search and rehired its general investment consultant following an RFP from the second quarter.
The college savings plan placed four strategies on watch for performance issues, while removing one from watch status at its July board meeting.
The pension plan has hired a new domestic large-cap value equity manager to handle $375 million.
The pension plan’s outsourced cio liquidated 17 investment strategies and transitioned the assets to five CITs in the second quarter.
The plan also terminated eight managers as part of a public equity implementation.
The plan disclosed first quarter changes to its non-U.S. equity portfolio at a recent meeting.
The plan hired a passive international equity manager to replace an active mandate in May.
A foundation based in the Midwest allocated to an emerging markets equity strategy with a focus on sustainability last year.