Large-Cap
The new manager will diversify the fund’s U.S. equity portfolio following approval at an October board meeting.
The retirement system terminated an international large-cap growth equity manager first hired in 2016.
The pension plan also removed its domestic core fixed-income mandate from watch last month.
The fund will consider adding a new large cap active extension manager at this week’s board meeting to further diversify its domestic equity portfolio.
The plan hired one new manager and retained four in its search.
The retirement fund also terminated a domestic large-cap value equity manager at a board meeting today.
The plan hired two of five firms interviewed for the mandate last week.
The deferred compensation plan replaced its domestic large-cap value equity manager in the first quarter.
The firm had been on watch since 2023 for underperformance and the funds have been moved to a passive account.
The retirement system also terminated its domestic large-cap growth equity manager in the third quarter.
