Large-Cap
The deferred compensation plan terminated two equity managers, which had both been on watch due to underperformance, in May.
The plan began searches for active domestic large-cap, small- to mid-cap and small-cap equity managers in February.
The pension plan has hired a new domestic large-cap value equity manager to handle $375 million.
The retirement fund’s investment committee recommended a pair of terminations as part of several changes within its U.S. equity portfolio.
The retirement system approved an active international equity manager RFP last week.
The deferred compensation plan terminated one of its diversified emerging markets equity managers due to low participant usage and underperformance.
The retirement system hired a new manager to replace BlackRock last month.
The search is open to core, value and growth non-U.S. equity managers.
The deferred compensation plan’s active global large-cap growth equity manager had been on watch since the third quarter due to underperformance.
The incumbent international large-cap value equity manager had been on watch due to underperformance, asset outflows and organizational changes.