Passive Equity
The retirement plan hired several managers to move toward its new asset allocation policy.
The plan hired an index manager to replace its active large-cap growth equity manager.
The retirement system is seeking a Standard & Poor’s 400 Index manager.
The plan will look to rehire two of its incumbent managers to handle passive equity mandates.
Nearly $2.2 billion in assets are up for bid across the searches.
The plan is seeking passive managers for strategies across equity and fixed-income.
The domestic large-cap growth equity manager had been on watch due to underperformance.
The new structure will result in manager terminations and searches.
The plan approved the search at a board meeting earlier this week.
The plan approved launching a mid-cap index search for compliance reasons.