Domestic Equity
The plan replaced several of its passive mandates with Vanguard Group at yesterday’s board meeting.
The board replaced existing passive domestic equity and hedge fund managers at a meeting last month.
The council laid out plans to achieve an interim target by 2035.
Growth, core and value styles will all be considered in the search.
The plan replaced its domestic all-cap equity manager, which had been on watch since April 2022 due to underperformance.
Retirement system is seeking a pool of managers to provide the services.
The plan’s current managers were first hired in 2016 following a similar RFP process.
The West Coast retirement system consolidated to one manager from two at today’s board meeting.
The plan is preparing searches for international and U.S. small-cap equity managers for this year.
The plan replaced its domestic mid-cap growth equity manager due to underperformance.