Passive Equity
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.
The plan also concluded its real estate and passive manager searches.
The plan terminated its active international value equity manager in December due to underperformance.
The plan could not reach enough votes to approve rehiring its incumbent private equity consultant.