Non-U.S. & Global Equity

Plans expect to award a record keeper contract and discuss the potential replacement of an international value equity manager in September.

New public equity policy targets will help the plan better align with the global marketplace.

Plan reallocated its $2.7 million international small- to mid-cap growth equity investment to an existing MSCI ACWI ex-U.S. Index fund.

Selected international large-cap growth equity manager will handle between $1 billion and $2 billion and the U.S. REIT manager will manage between $100 million and $200 million.

The plan also made several adjustments to its traditional growth portfolio at its meeting last week.

Investors favoring value investing do not need to only focus on small-cap stocks to access the value premium via long-only portfolios, new academic research finds.