Large-Cap
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.
The plan added a second value manager at its board meeting last week.
The pacing plan calls for a total of $58 million to private debt and private equity over the next two years.