Large-Cap
The termination stems from an upcoming co-portfolio manager departure.
The retirement plan will consider the termination of three equity managers amid a restructuring of its public equity portfolio next week.
The health care trust hired an additional core-plus fixed-income manager while swapping out another at this week’s board meeting.
The retirement system terminated an equity manager that handled two mandates yesterday.
The plan is searching for a replacement for an underperforming incumbent.
Marty LaPrade was the lead portfolio manager on the firm’s U.S. large-cap growth equity strategy.
The pension system is scheduled to hear a proposed U.S. equity structure this week that would concentrate assets with a “fewer number of higher conviction strategies currently in the portfolio.”
The retirement fund also terminated a Russell 1000 Growth Index fund manager today.
The deferred compensation plan replaced its domestic large-cap value equity manager last quarter.
The plans are reviewing recommendations to replace three existing managers.