Domestic Equity
The plans recently replaced a domestic mid-cap growth equity manager due to underperformance and hired a sustainable equity manager.
The plan is seeking small- to mid-cap growth and value equity managers as it considers a streamlining of its domestic equity portfolio.
The plan will also receive an infrastructure search report next month.
The decision came as the firm’s performance has been a drag on the plan’s return.
The plan’s domestic large-cap portfolio will now be passively managed.
The plan has current managers in the two asset classes.
The plan selected a new mid-cap growth manager over four other finalists to replace Allspring Global Investments at its August board meeting.
The plan will fund the new active manager from its index allocation.
The Santa Monica, Calif.-based outsourced cio firm is overweight on asset classes that capitalize on a strong U.S. economy buoyed by strong economic and consumer activity.
The retirement system is seeking a domestic mid-cap growth equity manager to handle a $12 million mandate.
