Small-Cap
Incumbent firm beat out four other finalists presented in a search last quarter.
Plan invested with two international equity managers and a direct lending manager yesterday.
Plan’s new asset allocation policy will introduce a 10% target to domestic small-cap equity.
Plan reallocated its $2.7 million international small- to mid-cap growth equity investment to an existing MSCI ACWI ex-U.S. Index fund.
The search follows approval of a new asset allocation that includes a maiden 5% target to private debt.
The plan concluded a global equity search conducted in the fourth quarter.
Investors favoring value investing do not need to only focus on small-cap stocks to access the value premium via long-only portfolios, new academic research finds.
The plan does not currently have a dedicated manager for emerging markets equity.
Plan switched domestic small-cap value equity managers in the first quarter.
Plan added a pair of managers to split a total of 5% to international small-cap equity.