Large-Cap
The deferred compensation plan terminated one of its diversified emerging markets equity managers due to low participant usage and underperformance.
The retirement system hired a new manager to replace BlackRock last month.
The search is open to core, value and growth non-U.S. equity managers.
The deferred compensation plan’s active global large-cap growth equity manager had been on watch since the third quarter due to underperformance.
The incumbent international large-cap value equity manager had been on watch due to underperformance, asset outflows and organizational changes.
The pension plan agreed to consider replacing its domestic large-cap core equity manager due to underperformance and a recent personnel change.
The plan is seeking firms to manage a total of $100 million.
The plans previously agreed to move their active domestic large-cap growth equity asset class to a passive mandate in December.
The plan made several changes to its manager watch list at a recent meeting.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
