Small-Cap
The decision comes after the plan had initially decided to go ahead with a search for emerging managers-of-managers last month.
The pension fund concluded a general investment consultant search by selecting its incumbent this week.
The retirement system retained its equity manager and let go of its incumbent fixed-income manager.
The plan added a new fixed-income manager to its investment lineup during the second quarter.
The firm was part of the plan’s local emerging manager composite.
The plan also removed a manager from the watch list.
The foundation added two new small-cap equity strategies during the second quarter through full and partial redemptions from two existing small-cap managers.
The two manager terminations stem from underperformance, asset outflows and high fees.
The city hired two firms on behalf of its three retirement funds, replacing an underperforming incumbent.
The fund’s investment and operations committee will recommend State Street Global Advisors to handle an active emerging markets equity ex-China mandate later this month.