Large-Cap
The retirement system replaced three underperforming domestic equity managers in the fourth quarter.
The retirement fund is conducting the search due to underperformance from its incumbent domestic large-cap value equity manager.
The trust may have transitioned its two active international equity investments to a passive non-U.S. core index fund.
The pension plan terminated two domestic equity managers in the second quarter.
The board also disclosed a private equity commitment at today’s investment committee meeting.
The retirement system recently replaced its domestic large-cap value equity manager due to underperformance.
The retirement system shifted its active domestic large-cap growth equity mandate to an existing index fund investment.
The retirement system approved the search at last week’s board meeting due to an upcoming contract expiration.
The plan placed one manager on formal watch and terminated another.
The search is due to performance concerns with the retirement system’s two incumbent large-cap value managers.
