Small- to Mid-Cap
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.
The pension plan hired a new domestic small- to mid-cap value equity manager and made commitments totaling $980.4 million in June.
The retirement system was scheduled to interview three finalists in a domestic small- to mid-cap equity search at last month’s board meeting.
The pension plan will consider potentially replacing its domestic small- to mid-cap core equity manager, which has underperformed.
The search is open to core, value and growth non-U.S. equity managers.
The plan is looking to hire one manager that is benchmarked against the Russell 2500 Index.