Mid-Cap
The plan will receive information on three real estate managers at its November meeting, which will also see a presentation from an underperforming domestic equity manager.
The plan’s investment consultant recommended the termination due to the firm’s underperformance.
The pension plan hired two equity managers and replaced its existing money market manager in the second quarter.
The retirement system is set to issue RFPs for international equity and emerging markets equity managers next year.
The search is open to core, growth and value managers.
The plan was slated to approve two active domestic mid-cap equity manager terminations at a meeting this week.
The search is required by state statute and the incumbent mid-cap core manager is Davenport Asset Management.
The retirement system made domestic mid-cap growth and value equity manager changes this month.
The plan selected the firm to handle roughly $9 million following finalist presentations at today’s board meeting.
The plan expects to hire a new domestic mid-cap growth equity manager later this month.
