Small-Cap
The search is being conducted to replace the plan’s incumbent global growth equity manager, which has been on watch due to underperformance.
The university approved adding a small-cap value equity fund and an all-equity ESG fund as fund options for participants within its defined contribution plan this month.
The deferred compensation plan replaced two equity managers, which had been on watch, yesterday.
The retirement system hired Dimensional Fund Advisors to handle international value and domestic small-cap value equity mandates last quarter.
The search is due to state regulatory requirements.
A total of six new sub-mandates were funded.
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.