Domestic Equity
The plan rehired its incumbent domestic large-cap value equity manager following finalist interviews at a special board meeting held today.
Plan reviewed a search report that proposed three domestic small- to mid-cap value finalists for its $25 million mandate.
The plan is conducting a mid-cap value manager replacement search as its incumbent manager has lost assets and the plan’s assets made above 40% of the investment product.
The plan rehired its incumbent after interviewing four total firms today.
Plan continues working toward executing a transition of assets away from the state fund.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan hired a new domestic small- to mid-cap core equity manager yesterday.
Plan staff is considering searches in small-cap equity and multi-asset credit searches later in 2023.
The plan completed a search to fill its maiden domestic mid-cap growth equity allocation this week.
The plan agreed to conduct two domestic equity manager searches to potentially replace existing mandates with the same firm.