Passive Equity
The pension plan also made a private equity commitment in November.
The retirement system diversified its previously all-passive domestic large-cap equity portfolio with the addition of an active large-cap core mandate.
The plan moved more than $70 million into passive strategies at its February meeting.
The institution approved an investment with a low carbon, global equity index fund within its pension and revised the target asset allocation for its largest pool of assets.
The health care trust hired an additional core-plus fixed-income manager while swapping out another at this week’s board meeting.
The retirement system terminated an equity manager that handled two mandates yesterday.
The retirement fund also terminated a Russell 1000 Growth Index fund manager today.
The retirement system terminated its active domestic large-cap growth equity manager last month due to underperformance.
Nonprofit investors and allocators are tempering expectations for their portfolios in 2026 as they prepare for more moderate returns resulting from increased volatility and heightened valuations along with persistent macroeconomic and geopolitical uncertainties.
The retirement system is looking to index its international equity portfolio.