Large-Cap
The pension plan hired a new domestic large-cap growth equity manager last month.
The deferred comp plan’s investment consultant will present an international large-cap value manager search report at next week’s meeting.
The plan also retained two incumbent managers in its large-cap search.
The plan also made a private equity commitment in June.
The plan’s general investment consultant recently recommended a review of domestic large-cap value equity managers due to the incumbent’s underperformance.
The manager hire was recommended as part of a public equity structure analysis.
The trust funded the hires through the termination of two existing large-cap equity managers.
The plan replaced two domestic large-cap managers and consolidated its small-cap portfolio into a small- to mid-cap core allocation.
The pension fund swapped out an active large-cap value equity mandate for a passive one in the second quarter.
The deferred compensation plan terminated an underperforming domestic large-cap value equity manager in the second quarter.