Small-Cap
The plan also added several new equity managers to the program.
The retirement system placed a domestic small-cap value equity manager on watch last month due to lagging performance.
The pension plan has directed its staff and general investment consultant to conduct a targeted RFP process to replace a terminated international small-cap equity manager.
The plan approved a search last year to complement its existing international equity managers.
The plan began searches for active domestic large-cap, small- to mid-cap and small-cap equity managers in February.
The plan also terminated three managers last week.
The trust fund has hired an international small-cap equity manager over two other finalists following a search and rehired its general investment consultant following an RFP from the second quarter.
The retiree trust fund may terminate an international small-cap equity manager without improved performance to end the year.
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.
