Passive Equity
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
The plan transferred the assets to an existing Standard & Poor’s 500 Index mandate last week.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
The plans were slated to receive an ESG manager search book this week and made several changes to their passive equity portfolio last month.
The fund added a global real estate strategy and passive international equity strategy with a New England-based firm to its roster of underlying funds to add more yield and reduce overall fees.
The plan diversified its international equity portfolio by swapping a growth manager for a value manager this week.
The plan is seeking both active and passive managers to handle up to $10 million.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The searches comply with standard state procurement laws.