Small- to Mid-Cap
The retirement system hired Dimensional Fund Advisors to handle international value and domestic small-cap value equity mandates last quarter.
The decision comes after the plan had initially decided to go ahead with a search for emerging managers-of-managers last month.
The pension fund concluded a general investment consultant search by selecting its incumbent this week.
The retirement system will conduct a full search for emerging managers-of-managers after reviewing a consultant presentation on available options at today’s meeting.
The searches result from a new domestic equity structure.
The pension plan terminated its domestic small- to mid-cap core equity manager in August due to underperformance.
The general employees, police and firefighters pension funds will look to replace an underperforming manager.
The plan began searches for active domestic large-cap, small- to mid-cap and small-cap equity managers in February.
The retiree trust fund may terminate an international small-cap equity manager without improved performance to end the year.
The retirement fund’s investment committee recommended a pair of terminations as part of several changes within its U.S. equity portfolio.