Large-Cap
The plan also retained two incumbent managers in its large-cap search.
The plan also made a private equity commitment in June.
The plan’s general investment consultant recently recommended a review of domestic large-cap value equity managers due to the incumbent’s underperformance.
The manager hire was recommended as part of a public equity structure analysis.
The trust funded the hires through the termination of two existing large-cap equity managers.
The plan replaced two domestic large-cap managers and consolidated its small-cap portfolio into a small- to mid-cap core allocation.
The pension fund swapped out an active large-cap value equity mandate for a passive one in the second quarter.
The deferred compensation plan terminated an underperforming domestic large-cap value equity manager in the second quarter.
The retirement system replaced three underperforming domestic equity managers in the fourth quarter.
The retirement fund is conducting the search due to underperformance from its incumbent domestic large-cap value equity manager.
