Large-Cap
The new manager will be partially funded by reducing the portfolio of the plan’s incumbent large-cap core manager.
The plan’s incumbent manager is currently on watch for performance reasons.
The plan will interview three firms in its search for large-cap growth and value managers in April.
The plan hired a replacement for its incumbent domestic large-cap growth equity manager last month.
The plan hired an international growth equity manager and committed to two existing private equity managers last month.
Plan will replace a recently terminated core real estate manager.
The fund approved terminating a domestic large-cap growth equity manager due to underperformance and reinvesting the proceeds with an existing passive equity manager relationship late last year.
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The terminated manager was first hired in 1990.
The plan received a search report on potential replacements for its incumbent domestic large-cap growth equity manager this week.