Passive Equity
The search is part of an asset allocation implementation plan.
The plan also funded a new internally managed enhanced index fund.
The retirement plan hired several managers to move toward its new asset allocation policy.
The plan hired an index manager to replace its active large-cap growth equity manager.
The retirement system is seeking a Standard & Poor’s 400 Index manager.
The plan will look to rehire two of its incumbent managers to handle passive equity mandates.
Nearly $2.2 billion in assets are up for bid across the searches.
The plan is seeking passive managers for strategies across equity and fixed-income.
The domestic large-cap growth equity manager had been on watch due to underperformance.
The new structure will result in manager terminations and searches.