Domestic Equity
The deferred compensation plan reviewed an initial search report at its deferred compensation committee meeting last week.
The retirement system will interview two growth and two value finalists next month.
The retirement system made a change due to the incumbent’s portfolio turnover and subsequent strategy deviation.
The upcoming search stems from a new domestic equity structure approved today.
The plan is conducting the search in anticipation of the expiring contracts of its three large-cap growth managers.
The retirement system hired a new manager at its board meeting yesterday after finalist interviews were held in March.
The plan’s current U.S. small-cap growth equity allocation is handled by UBS Asset Management.
The domestic large-cap equity manager was hired as part of the board’s U.S. equity 2.0 portfolio.
The plan’s domestic mid-cap value equity manager had been on watch due to underperformance.
The pension plan hired a new domestic large-cap growth equity manager last month.