Mid-Cap
The retirement fund replaced its small-cap value and small- to mid-cap growth mandates with a pair of core managers last month.
The pension fund will become the initial investor in a new domestic mid-cap value equity strategy.
The retirement system terminated an equity manager that handled two mandates yesterday.
The pension fund swapped domestic mid-cap value equity managers due to underperformance from the incumbent.
The plan is considering replacing an underperforming domestic equity manager and is also asking for a list of potential private equity options.
The plan’s investment consultant will present potential alternative domestic mid-cap equity managers in May.
The deferred compensation plan recently replaced its domestic mid-cap value equity manager due to underperformance.
The search follows several personnel changes at its incumbent mid-cap growth manager, which has prompted concern from another pension fund.
The plan has asked its consultant to come back with U.S. mid-cap growth and value manager options.
The retirement fund hires a new short-term fixed-income manager in September.