Passive Equity
The plan hired a passive international equity manager to replace an active mandate in May.
The retirement fund’s investment committee recommended a pair of terminations as part of several changes within its U.S. equity portfolio.
Fund closes at its hard cap of roughly $1.9 billion.
The retirement plan replaced its domestic core-plus fixed-income manager following a bond manager review in May.
The retirement system approved an active international equity manager RFP last week.
The deferred compensation plan terminated one of its diversified emerging markets equity managers due to low participant usage and underperformance.
The retirement system hired a new manager to replace BlackRock last month.
The program expects to conclude its domestic all-cap equity index manager search at a special board meeting this month.
The authority also hired a total of six new managers within its global equity and fixed-income portfolios as part of an asset allocation policy approved in February.
The plan was slated to approve two active domestic mid-cap equity manager terminations at a meeting this week.