Domestic Equity
The pension system is scheduled to hear a proposed U.S. equity structure this week that would concentrate assets with a “fewer number of higher conviction strategies currently in the portfolio.”
The retirement fund also terminated a Russell 1000 Growth Index fund manager today.
The plan’s current domestic equity portfolio includes small- to mid-cap growth and small-cap value mandates.
The retirement system is seeking a firm to handle between $10 million and $15 million.
The retirement system hired a firm this week after interviewing three finalists.
The retirement fund also hired a new domestic small-cap value equity manager this week.
The pension board will also target $1 billion to non-traditional equity strategies.
The pension plan appears to have replaced its domestic small-cap value equity manager in the fourth quarter.
The deferred compensation plan recently replaced its domestic mid-cap value equity manager due to underperformance.
The system approved revising the asset allocations for its endowment and liquidity pools after reviewing the allocation strategies for both pools in recent months.