Small-Cap
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.
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.