Passive Equity
The retirement fund terminated the manager due to underperformance.
The retirement system will conduct searches for domestic and global fixed-income and domestic and emerging markets equity managers.
The plans had issued an RFP for the services in the first quarter.
The plan’s general investment consultant will search for a new active international equity manager in the near future.
The plan is searching for domestic and international equity, core fixed-income and core real estate managers.
The plan consolidated its passive management to a single firm in August.
The plan is seeking a firm to replicate the MSCI EAFE Index.
The plan is seeking index managers to handle a total of $45 million.
The fund opted to replace its mid-cap growth investment due to underperformance.
The fund anticipates awarding five contracts in the search.