Non-U.S. & Global Equity
One of three portfolio managers on the international equity team departed.
The plan’s investment subcommittee will consider domestic mid-cap value and emerging markets equity replacement options at an upcoming meeting.
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
The RFP is slated for approval at the plan’s meeting next month.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
The search follows approval of new asset allocation policies, which introduced a 5% target to international small-cap equity for each plan.
The plan approved a consultant recommendation to replace its domestic large-cap growth equity manager last quarter.
Plan shifted its mandate with a diverse-owned international equity manager to its passive allocation in the asset class.
The plan will include its two incumbent international value equity managers in a search to review the asset class universe.