Passive Equity
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.
The plan also approved $25 billion in passive investments with a firm as well as private equity commitments at today’s meeting.
The plan also recently concluded its non-U.S. equity manager searches.
The plan also terminated a high-yield fixed-income manager in the first quarter.
The plan is looking for providers for its approximately $85 billion index portfolio.
The retirement system terminated its global large-cap growth equity manager last month.
The retirement system agreed to part ways with an active manager that had been on watch due to lagging performance.
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.
