Equity
The pension plan will review its upcoming global core equity manager search process at an investment committee meeting next week.
The retirement fund placed domestic small- to mid-cap value and international small-cap equity managers on watch last month.
The plan hired a new international equity manager after interviews yesterday.
The plan replaced its domestic small-cap value equity manager in the fourth quarter due to underperformance.
The deferred compensation fund hired a new domestic large-cap value equity manager at today’s meeting.
The pension plan added three new managers to its equity portfolio last week.
The terminations are consistent with the retirement plan’s previously approved public equity restructuring.
The retirement system will allocate $450 million with the new international equity manager.
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.