Passive Equity
The plan expects to conclude the search process in the third quarter.
The plan is looking for an index focused on factors such as value, momentum, quality and low volatility to serve as a reference benchmark for an internally-managed portfolio.
The fund approved terminating a domestic large-cap growth equity manager due to underperformance and reinvesting the proceeds with an existing passive equity manager relationship late last year.
The search is for global ex-U.S. and passive equity managers.
The plan expects to issue the RFP later this month and make a selection in the third quarter.
The plan will receive a recommendation to approve a new manager structure for the asset class that will result in eliminations and subsequent searches.
The plan has begun a search seeking passive investment management services.
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The plan hired an index manager to oversee a Russell 1000 Growth Index allocation and named another passive provider to its bench.
The plan moved an emerging markets equity mandate to a passive account while it determines its long-term direction for the assets, which could ultimately remain passive.