Passive Equity
The plan’s sole active large-cap growth equity manager has underperformed its benchmark.
Historic market concentration within the Standard & Poor’s 500 Index has led to a resurgence in active domestic large-cap core equity investing among institutional investors.
The board has hired two domestic equity managers to replace existing managers across its three investment plans.
The retirement system will conduct a search for three fixed-income mandates.
The retirement system transitioned its passive domestic equity mandates with BlackRock to active management in the third quarter.
Active large-cap value and Wilshire 5000 index mandates were shifted into a Russell 1000 Index fund earlier this quarter.
The retirement fund approved its first commitments to the private credit space after adding a maiden target to the asset class last year.
The plan relaunched a search after initially hiring a firm last year.
The plan has made several changes to its portfolio in recent months.
The plan appears to have terminated its active domestic large-cap equity manager in the second quarter.