Equity
The plan will fund a new passive manager by redeeming an active one within its international equity portfolio.
The retirement system recently replaced its domestic large-cap value equity manager due to underperformance.
The retirement system is seeking strategies across the international equity spectrum.
The retirement system made a manager switch after issuing an RFP in February.
The plan also held executive director interviews last week.
The retirement system shifted its active domestic large-cap growth equity mandate to an existing index fund investment.
The pension fund has issued an RFI seeking local managers offering active equity strategies.
The retirement system also approved placing an international equity manager on watch due to a personnel departure.
The plan placed one manager on formal watch and terminated another.
The plan voted to consolidate its global equity portfolio to three managers from four at an investment committee meeting today.
