Large-Cap
New equity portfolio structure both increases the domestic large-cap allocation and shifts it totally to passive investment.
The plan added a core strategy to diversify its existing domestic large-cap equity portfolio consisting of value and growth managers.
The plan approved a consultant recommendation to replace its domestic large-cap growth equity manager last quarter.
The hire concludes the plan’s search to replace Allspring Global Investments, which was terminated last year due to underperformance.
The plan recently committed approximately $2.2 billion total to nine funds.
The plan rehired its incumbent domestic large-cap value equity manager following finalist interviews at a special board meeting held today.
The plan added a second value manager at its board meeting last week.
The pacing plan calls for a total of $58 million to private debt and private equity over the next two years.
The plan agreed to conduct two domestic equity manager searches to potentially replace existing mandates with the same firm.
The plan approved the search at a board meeting last month.