Mid-Cap
Consultant recommended small-cap value manager search as part of a U.S. equity structure review presented last month.
The university is looking to add actively managed domestic and emerging markets equity strategies in order to diversify and enhance its portfolio’s returns.
The restructuring will next eliminate three more managers next month.
The plan will receive a list of candidates at its June 25 board meeting.
New domestic small-cap core mandate will complement existing small- to mid-cap and value investments.
Plan added two new fixed-income managers in a revamped global bond portfolio at this week’s meeting.
Incumbent firm recently experienced a client loss that dropped its product assets below an acceptable threshold for the plan.
The plan will conduct an active domestic mid-cap value equity manager search as part of the second phase of its equity structure review.
The plan moved three of its index funds with Vanguard Group to index funds with Fidelity Investments.
