Domestic Equity
The retirement system approved a private equity fund-of-funds commitment to an existing manager relationship at yesterday’s board meeting.
The plan hired one new manager and retained one incumbent today.
The plan’s existing large-cap growth manager had underperformed.
The pension plan will conduct domestic large-cap and small-cap equity manager searches this year.
The investment committee approved a pair of active large-cap equity managers to replace a factor-based allocation this week.
The university is weighing a revised investment policy statement that includes increasing its targets to domestic and international equities.
The university swapped domestic equity managers within its endowment and liquidity pool while also adding real assets and diversifying strategy investments at a recent investment committee meeting.
The plan’s sole active large-cap growth equity manager has underperformed its benchmark.
The retirement plan also terminated a core-plus fixed-income manager.
Historic market concentration within the Standard & Poor’s 500 Index has led to a resurgence in active domestic large-cap core equity investing among institutional investors.