Small-Cap
The institution hired two domestic small-cap equity managers and added two venture capital commitments with existing managers at a meeting late last week.
The plan asked its general investment consultant to prepare a search after an asset allocation discussion at today’s board meeting.
The plan selected a winner after interviewing a total of three finalists today.
Plan will replace a recently terminated core real estate manager.
The plan added a balanced fund manager within its advisor and direct plans to its watchlist due to underperformance.
The plan made a U.S. small-cap value equity manager hire at its November board meeting.
The plan will receive a recommendation to approve a new manager structure for the asset class that will result in eliminations and subsequent searches.
The plan’s incumbent was first hired in 1997.
The plan replaced its existing domestic small-cap value equity manager due to underperformance and organizational turnover.
The city’s deferred compensation and defined contribution plans replaced a domestic small-cap value equity manager today and its defined benefit plan will schedule finalist presentations in its large-cap growth search for next month.