Small-Cap
The plan considered the termination as well as a restructure of its international small-cap portfolio in December.
The West Coast retirement system consolidated to one manager from two at today’s board meeting.
The plan is preparing searches for international and U.S. small-cap equity managers for this year.
The plan will interview four finalists in its international small-cap value search.
The plan went with the incumbent manager in its domestic small-cap value equity search.
The retirement system concluded its domestic small-cap value equity search by selecting two managers.
The co-founder of a small-cap growth specialist firm died last month due to complications from a previous illness.
The plan selected two firms in its infrastructure manager search.
The pension plan will consider potentially replacing its international small-cap core equity manager due to underperformance.
The deferred compensation plan recently made several changes to both its equity and fixed-income portfolios.