Small-Cap
The university recently swapped out a small-cap value equity strategy for a Standard & Poor’s small-cap exchange-traded fund in the first quarter.
The pension plan recently made commitments totaling $945 million and terminated a domestic small-cap growth equity manager.
The retirement system has two domestic small-cap equity mandates up for bid.
The retirement system reviewed three potential replacement options for an incumbent manager last quarter.
The investment board disclosed a domestic small-cap core equity manager termination and private markets commitments totaling $95 million today.
The pension fund had approved minimum qualifications for the search last month.
The plan will receive a recommendation to terminate an international equity manager due to underperformance.
The retirement system also concluded its private equity and index manager searches.
The retirement system launched a domestic small-cap growth equity search in April.
The retirement system also wrapped up its first fiscal year as an independent entity by outperforming its benchmark by more than 100 basis points.
