Passive Equity
The pension fund swapped out an active large-cap value equity mandate for a passive one in the second quarter.
The trust recently hired managers to fill its maiden targets to listed infrastructure and listed REITs.
The retirement system replaced three underperforming domestic equity managers in the fourth quarter.
The trust may have transitioned its two active international equity investments to a passive non-U.S. core index fund.
The pension plan also made a private equity commitment for pacing purposes last month.
The plan’s investment consultant recommended hiring specialized managers for its non-U.S. equity portfolio.
The plan will fund a new passive manager by redeeming an active one within its international equity portfolio.
The retirement system recently replaced its domestic large-cap value equity manager due to underperformance.
The retirement system shifted its active domestic large-cap growth equity mandate to an existing index fund investment.
The retirement fund was scheduled to review its international equity portfolio and a consultant RFP at this week’s board meeting.
