Passive Equity
The college savings plan approved adding a passive international equity comingled fund to its portfolio at the expense of two actively managed funds to reduce risk and lower management costs.
The plan also named a new manager at a board meeting earlier this year.
The retirement association is looking to add a passive component to its international equity portfolio.
The retirement system last conducted a similar search in 2010.
CIO Jonathan Grabel recently rehired the trust’s public markets passive manager and the pension plan made a $270 million private equity commitment this week.
The pension plan is seeking passive index and transition advisory services as it readies a long-awaited transition out of a larger fund.
The retirement system conducted a similar search in 2016 when it rehired its incumbent manager.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group as well as its sustainable equity mandate with Neuberger Berman in February.
The plan is looking to invest up to $175 million initially with the selected manager.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group after receiving an annual share class review in February.