Large-Cap
The deferred compensation plan replaced its international large-cap value equity manager in the fourth quarter due to underperformance.
The plan also made a real estate commitment at today’s board meeting.
The hire follows a search conducted due to the contract expiration of the plan’s incumbent.
A total of 23 firms submitted proposals to the retirement system’s domestic large-cap core equity manager search.
The pension fund made the decision following a search presentation from its general investment consultant in April.
The plan is seeking small-cap, small- to mid-cap and large-cap managers in a search open to core, growth and value styles.
The plan will also receive a domestic large-cap growth equity manager search report next week.
The plan hired an index manager to replace its active large-cap growth equity manager.
The deferred compensation plan reviewed an initial search report at its deferred compensation committee meeting last week.
The deferred compensation plan replaced its emerging markets large-cap core equity manager, which had been on watch since January 2022.