Small-Cap
The changes aim to improve portfolio quality for the retirement system’s domestic equity sleeve with several terminations and hires.
The pension fund hired two firms to replace a previously terminated underperforming manager.
The pension fund also trimmed an underperforming manager’s mandate by 30%.
The plan will interview three firms in a domestic small-cap value equity manager search next month.
The terminations include three underperforming managers.
The manager had been placed on watch for performance reasons in the fourth quarter.
The retirement fund will reissue a general investment consultant RFP after selecting a new firm for the role last month.
The deferred compensation plan is seeking a domestic large-cap value equity manager to replace its incumbent, which has underperformed.
The pension plan also made a private equity commitment in November.
The retirement system swapped out its domestic small-cap value manager in February.
