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The retirement system terminated an international value equity manager, which has been on watch, at a recent board meeting.
The country’s largest public defined benefit plans are shifting their allocations in favor of alternative strategies, a new study finds.
The pension plan created stand-alone target allocations for real estate and infrastructure and recently added a new member to its investment staff.
The plan committed to three real estate funds for pacing purposes.
The pension plan decided to stick with its incumbent at a meeting this week.
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.
The fund concluded searches launched in January.
Somerset had been in advanced talks to transfer its top performing funds to a new investment advisor.
The plan’s cio departed less than seven months after joining in the role.