Domestic Equity
The pension fund will become the initial investor in a new domestic mid-cap value equity strategy.
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.
The deferred compensation plan replaced its domestic large-cap value equity manager in the fourth quarter.
The hire concluded a domestic small-cap value equity replacement search from earlier this year.
The plan moved more than $70 million into passive strategies at its February meeting.
The state deferred compensation fund previously authorized a search to replace an underperforming incumbent in January.
The plan also hired two credit managers in the fourth quarter.
The plan approved the two manager searches at a board meeting yesterday.
The termination stems from an upcoming co-portfolio manager departure.
