Searches And Hires
The internal investment pilot is part of the board’s efforts to enhance investment outcomes.
City council approved the hire of the plans’ first investment consultant after receiving five responses to an RFP issued in October.
The search for each retirement plan is due to state statute requirements.
The commitment represents a new relationship for the city’s three pension plans.
The deferred compensation plan is also slated to receive results in its active domestic core fixed-income manager search in May.
The plan is conducting the search to comply with state procurement laws.
The retirement system is seeking to establish a pool of “possibly two to three” consulting firms to advise on co-investments.
The plan concluded a non-U.S. equity portfolio restructure with an international small-cap hire this week.
The fund ultimately decided to retain its investment consultants and their contract terms following review at its board meeting this month.
The pension plan will also consider candidates in its executive director search next month.