Large-Cap
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.
The plan placed a domestic large-cap growth equity manager on watch at its Dec. 6 board meeting.
The board replaced its international large-cap value equity manager in October due to underperformance.
Active large-cap value and Wilshire 5000 index mandates were shifted into a Russell 1000 Index fund earlier this quarter.
The pension fund concluded a general investment consultant search by selecting its incumbent this week.
The foundation switched to a large-cap core equity strategy with its existing manager from the firm’s dividend growth oriented strategy in an effort to create a more stable and diversified portfolio.
The plan is set to conduct searches for domestic large-cap growth equity, mid-cap value equity, private markets and co-investment managers due to expiring contracts.
The plan appears to have terminated its active domestic large-cap equity manager in the second quarter.
The pension plan replaced its global large-cap growth equity and domestic core-plus fixed-income managers in the second quarter.
The searches result from a new domestic equity structure.