REIT
The fund had been on watch for underperformance since last year but more recently abruptly replaced its lead portfolio managers.
The plan approved recommendations to add new international bond, real estate and high-yield bond funds as underlying investment options during a February board meeting.
The retirement fund disclosed $53 million in recent staff-led commitments.
The trust added targets of 3% each to listed infrastructure and listed REITs in the fourth quarter.
The deferred compensation plan also replaced its multi-strategy real estate manager last week.
The deferred compensation plan will also consider replacing its multi-strategy real estate manager this week.
The board replaced its sole real estate manager last month due to organizational concerns and a decline in assets.
The plan also made several private markets commitments totaling more than $500 million.
The plan’s investment committee is recommending hiring two firms.
The pension system will hear recommendations to add infrastructure and drop commodities, among other changes, at this week’s board meeting.
