Fixed-Income
The plan will issue a general investment consultant RFP due to an upcoming contract expiration and conduct an asset allocation study to consider eliminating its risk parity asset allocation.
The plan will begin with a mid-cap growth equity manager search in January.
The strategy will be new for the trust fund, which is looking to fill a $3.4 million mandate.
The authority previously hired five managers following a similar RFP process in 2012.
The state’s defined contribution plan is seeking a core-plus fixed-income manager.
The plan disclosed an additional investment and two terminations at Friday’s meeting and recently saw the departure of its deputy cio.
The agency will first hold a virtual conference for interested managers next month.
The plan is searching for a firm that specializes in insurance-linked securities strategies.
The plan will first issue the fixed-income and private equity RFPs in the next two months.
The asset manager has hired a director of fixed-income and a portfolio manager for its U.S. small-cap and small- to mid-cap investment team and promoted its director of ESF integration to director of ESG research and engagement.