Domestic Equity
The healthcare system redeemed domestic large-cap equity and emerging markets equity allocations and reallocated the proceeds with existing equity managers in its portfolio at the recommendation of its general investment consultant in the first quarter.
The foundation is looking to add diverse-owned managers, of which currently has four, to its portfolio along with regionally focused investments.
The plan opted for an emerging markets equity fund with more diversified holdings.
The pension plan hired an all-cap core equity manager to handle two mandates within its international equity portfolio yesterday.
The board has been preparing to conduct the searches as it works toward a new asset allocation approved in 2021.
The plan had been scheduled to issue the RFP for due diligence purposes.
The plan’s current small-cap core manager was first hired in 2008.
The plan also interviewed two firms in its domestic large-cap growth equity manager search last month.
The plan recently considered increasing its fixed-income target as part of an asset allocation study.
The search is for active large-cap, small- to mid-cap and small-cap equity managers.