Small-Cap
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The plan narrowed its domestic small-cap value equity search to three finalists and concluded its diverse fund-of-funds search.
The plan hired a new domestic small-cap equity manager at its board meeting this month.
The plan is conducting the searches to comply with state procurement law.
The plan’s incumbent manager will be interviewed along with three other finalists.
The trust’s incumbent U.S. small-cap growth equity manager ceased operations.
The plan approved a consultant recommendation to replace its existing U.S. small-cap equity option.
The plan will interview two U.S. small-cap value equity managers this week and also recently added an international equity manager.
The fund added the domestic small-cap equity manager to its watchlist this summer due to underperformance and will review the firm next year.
The plan hired two managers to fill its maiden domestic small-cap equity target and committed to a new timber manager in August.