Domestic Equity
The firm has underperformed its benchmark for the quarter as well as the one- and three-year time periods.
The plan’s initial priority will be to conduct a global core/value equity strategy search to compare with an existing investment manager.
The plan will consider replacing a domestic large-cap equity fund on watch status and approving a new asset allocation for its portfolio at its December board meeting.
The retirement system will interview three finalists at its February investment committee meeting.
The pension system hired a new manager after closed session deliberations at a meeting this week.
The retirement system will consider replacing its active domestic mid-cap growth equity manager.
The retirement system also recently added private markets commitments totaling $26 million.
The deferred compensation plan hired a new domestic large-cap core equity manager last week.
The retirement system hired five managers as part of a newly approved asset allocation yesterday.
The manager had been on watch since last December due to underperformance.