Large-Cap
The plan’s existing large-cap growth manager had underperformed.
The pension plan will conduct domestic large-cap and small-cap equity manager searches this year.
The investment committee approved a pair of active large-cap equity managers to replace a factor-based allocation this week.
Historic market concentration within the Standard & Poor’s 500 Index has led to a resurgence in active domestic large-cap core equity investing among institutional investors.
The plan’s general investment consultant will bring a search report next month.
The retirement system was slated to terminate a U.S. large-cap growth equity manager last month.
The plan expects to add eight additional non-U.S. equity managers over the next two months.
The plan will also interview a finalist in its domestic large-cap core equity manager search next month.
The retirement system is seeking active global all-cap, large-cap, mid-cap and small-cap equity managers.
The board has hired two domestic equity managers to replace existing managers across its three investment plans.
