Equity
The pension fund hired two firms to replace a previously terminated underperforming manager.
The retirement system also approved new target allocations for its public equity managers at today’s investment committee meeting.
The firm will manage separate mandates for the city’s pension plan and OPEB Trust.
The deferred compensation plan also terminated its global large-cap growth equity manager in February.
The plan terminated two managers as part of a non-U.S. equity structure study.
The fund approved the addition of a new international equity manager in April to complete its search for a core manager from 2025.
The government is launching the country’s first national sovereign wealth fund and will provide $25 billion over three years on a cash basis to seed the fund.
The foundation is searching for an analyst for global public equities to evaluate the performance of existing managers and conduct due diligence on and meet with prospective managers.
The plan was scheduled to consider RFPs for international and domestic small- to mid-cap growth equities this month.
The system approved removing a diversifying strategies investment and adding a public equity investment with a new manager within its endowment and liquidity pools this month.
