The plan terminated an approximately $182 million long-only alpha mandate and made commitments to three existing and one new manager relationship in January.
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 plan will receive a recommendation to approve a new manager structure for the asset class that will result in eliminations and subsequent searches.
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.