Searches And Hires
The plan also adopted a new strategic asset allocation at its board meeting this week.
The town has three pension plans with $17 million in total assets.
The retirement system approved a private equity fund-of-funds commitment to an existing manager relationship at yesterday’s board meeting.
Incumbent RVK will see its contract expire on Dec. 31.
The fund will consider committing additional capital to two recently-hired managers within its portfolio at a special board meeting on March 5 after its original meeting on Feb. 19 was cancelled due to a winter storm.
The fund is slated to receive a cryptocurrency education presentation from an asset manager at this week’s board meeting.
The plan hired two core and two core-plus fixed-income managers, including two incumbents, at today’s board meeting.
The investment advisor will be response for more than $13 billion in assets.
The retirement system selected a new manager following three finalist interviews held last week.
The plan launched a search last year due to underperformance from its incumbent manager.