Small-Cap
The city will interview three small-cap core managers in October.
The plan will receive information on three real estate managers at its November meeting, which will also see a presentation from an underperforming domestic equity manager.
The pension plan hired two equity managers and replaced its existing money market manager in the second quarter.
The deferred compensation plan terminated one of its diversified emerging markets equity managers due to low participant usage and underperformance.
The RFP was slated to be issued to comply with standard state procurement laws.
The plan is looking to invest 2% of its assets with an emerging markets small-cap equity manager.
The plan retained its incumbent domestic small-cap core equity manager after conducting a search that yielded 52 responses.
The city’s OPEB and scholarship plans are also searching for a U.S. small-cap core equity manager.
The plan selected two international small-cap value equity managers to conclude its search for a firm in the fourth quarter due to underperformance from the incumbent.
The plan approved an asset allocation in March that introduced new targets to international small-cap equity and infrastructure.