Mid-Cap
The plan approved the elimination of an active mid-cap equity mandate that had been on watch since last year.
The plan is considering shifting its small- and mid-cap manager relationships as part of a broader discussion about the domestic equity portfolio.
The plan will discuss potential real estate and infrastructure allocations at its August board meeting after opting to redeem from its core real estate manager yesterday.
Decision follows a partial acquisition of the incumbent firm that has left its equity team with $800 million in assets under management.
The plan is conducting a mid-cap value manager replacement search as its incumbent manager has lost assets and the plan’s assets made above 40% of the investment product.
The plan completed a search to fill its maiden domestic mid-cap growth equity allocation this week.
The plan increased its core bond target as part of asset allocation changes approved at last week’s meetings.
The plan will conduct on-site visits with five firms before presentations and selection slated for its March board meeting.
The plan concluded its domestic small- to mid-cap equity manager search and made private markets commitments last week.
The plan has launched its search seeking domestic mid-cap growth equity managers ahead of its incumbent’s contract expiration.