Domestic Equity
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.
The plan hired two new managers and retained three at a board meeting this week.