Large-Cap
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.
The terminated manager was first hired in 1990.
The plan received a search report on potential replacements for its incumbent domestic large-cap growth equity manager this week.
Plan approved two international large-cap equity manager hires after restarting a search last year.
The firm had been on watch since the third quarter of 2019 due to underperformance.
The plan has scheduled a meeting with a manager after placing the firm on watch this quarter.
The plan has issued an RFP seeking a domestic large-cap growth equity manager to handle $34 million.
The nonprofit hired a new active domestic large-cap equity manager last month after deciding to move away from passive equity management this summer.
The plan is conducting the searches to comply with state procurement law.
The plan retained two managers based on the recommendation of its general investment consultant.