Passive Equity
The fund opted to replace its mid-cap growth investment due to underperformance.
The fund anticipates awarding five contracts in the search.
The plan added an international large-cap value equity index manager last month.
The plan’s incumbent managers were first hired in 2018.
The deferred compensation plan hired a passive domestic large-cap growth equity manager to replace an active mandate last month.
The retirement fund’s investment committee will interview three finalists in a $737 million search next week.
The searches include a maiden domestic small- to mid-cap equity mandate.
The retirement system also concluded its private equity and index manager searches.
The plan will move at least a portion of its roughly $57.4 million domestic small-cap core equity mandate to a passive option while it considers the role of the asset class as part of a broader public equity review.
The search is part of an asset allocation implementation plan.