Passive Equity
The retirement system will also see its deputy executive director retire next week.
The international small-cap growth equity manager underperformed and experienced asset outflows as well as organizational changes.
The pension fund opted to go passive for a formerly active domestic large-cap growth equity mandate.
The plan launched a search earlier this year to replace an active domestic mid-cap core equity manager.
The retirement system also hired two managers in its emerging markets equity search.
The pension plan also made a private equity commitment in November.
The retirement system diversified its previously all-passive domestic large-cap equity portfolio with the addition of an active large-cap core mandate.
The plan moved more than $70 million into passive strategies at its February meeting.
The institution approved an investment with a low carbon, global equity index fund within its pension and revised the target asset allocation for its largest pool of assets.
The health care trust hired an additional core-plus fixed-income manager while swapping out another at this week’s board meeting.
