Mid-Cap
The deferred compensation plan recently replaced its domestic mid-cap value equity manager due to underperformance.
The search follows several personnel changes at its incumbent mid-cap growth manager, which has prompted concern from another pension fund.
The plan has asked its consultant to come back with U.S. mid-cap growth and value manager options.
The retirement fund hires a new short-term fixed-income manager in September.
The retirement system will consider replacing its active domestic mid-cap growth equity manager.
The manager had been on watch since last December due to underperformance.
The plan will invest 2.5% each into value and growth strategies.
The fund opted to replace its mid-cap growth investment due to underperformance.
The fund anticipates awarding five contracts in the search.
The program will also invite its domestic mid-cap growth equity manager to present at a future board meeting with the intent of placing the firm on watch due to underperformance.