Mid-Cap
The plan’s domestic mid-cap value equity manager had been on watch due to underperformance.
The plan approved the search at a board meeting earlier this week.
The plan approved launching a mid-cap index search for compliance reasons.
The pushback on diversity, equity and inclusion by the federal government, which plans to investigate whether DEI initiatives at several large universities and foundations are illegal, alongside several state governments has left some nonprofit institutions questioning their mission.
The retirement fund will fully redeem its active domestic mid-cap value equity mandate due to underperformance.
The retirement system is seeking active global all-cap, large-cap, mid-cap and small-cap equity managers.
The retirement board wrapped up domestic equity, non-U.S. equity and fixed-income searches at its board meeting this week.
The plans placed their incumbent domestic mid-cap equity manager on watch in September.
The plans hired a new core-plus fixed-income manager in the third quarter.
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.