Large-Cap
A college savings plan based in a Southern state has added two utilities strategies as underlying funds within some of its investment options.
The retirement system launched the searches last quarter due to contract expirations.
The search is being conducted to potentially replace un underperforming incumbent.
The plan previously had the portfolio in a Standard & Poor’s 500 Index fund.
The new manager replaces an underperforming incumbent that was also terminated due to organizational concerns.
The plan will review a recommendation to hire a new domestic large-cap value equity manager this week.
The plan hired two multi-asset credit managers at a board meeting today.
The plan will seek one firm to handle domestic large-cap and small-cap and international equity mandates.
The deferred compensation plan hired a passive domestic large-cap growth equity manager to replace an active mandate last month.
The foundation added an international large-cap equity allocation after revising its asset allocation last year.