Domestic Equity
The plan will interview finalists in November.
The pension plan has issued a general investment consultant RFP due to an upcoming contract expiration and will launch an active domestic large-cap value equity manager search as part of a portfolio structure review.
The pension plan shifted its emerging manager program to a U.S. small-cap equity mandate to increase its chances of achieving excess returns.
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The plan is seeking small- to mid-cap growth and value equity managers as it considers a streamlining of its domestic equity portfolio.
The plan will also receive an infrastructure search report next month.
The decision came as the firm’s performance has been a drag on the plan’s return.
The plan’s domestic large-cap portfolio will now be passively managed.
The plan has current managers in the two asset classes.
The plan selected a new mid-cap growth manager over four other finalists to replace Allspring Global Investments at its August board meeting.