Large-Cap
The plan will interview three domestic large-cap growth equity managers at a June 9 investment committee meeting.
The plan authorized a search to replace a terminated domestic large-cap growth equity manager and will issue a private equity consultant RFQ soon.
The RFP is slated for approval at the plan’s meeting next month.
The plan transferred the assets to an existing Standard & Poor’s 500 Index mandate last week.
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
The plan added a core strategy to diversify its existing domestic large-cap equity portfolio consisting of value and growth managers.
The plan approved a consultant recommendation to replace its domestic large-cap growth equity manager last quarter.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
The plan recently committed approximately $2.2 billion total to nine funds.
The plan rehired its incumbent domestic large-cap value equity manager following finalist interviews at a special board meeting held today.