Passive Equity
The retirement system also concluded its private equity and index manager searches.
The plan will move at least a portion of its roughly $57.4 million domestic small-cap core equity mandate to a passive option while it considers the role of the asset class as part of a broader public equity review.
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.