Small- to Mid-Cap
The pension plan also removed its domestic core fixed-income mandate from watch last month.
The retirement system also liquidated its domestic small- to mid-cap value equity mandate last month.
The retirement system also replaced its domestic small- to mid-cap core equity manager last month.
The plan’s incumbent domestic small- to mid-cap core equity manager had been gradually underperforming the benchmark.
The retirement plan recently terminated two underperforming domestic equity managers.
The retirement board rehired its incumbent in 2019 following a similar search.
The plan replaced two domestic large-cap managers and consolidated its small-cap portfolio into a small- to mid-cap core allocation.
The retirement board was also expected to hire a new manager in its domestic small- to mid-cap growth equity manager search.
The retirement system hired a new domestic small-to mid-cap core equity manager in the second quarter.
The pension plan terminated two domestic equity managers in the second quarter.
