Hawaii Deferred Compensation Plan surfing for large-cap core equity manager

Hawaii Deferred Compensation Plan, Honolulu, is searching for a domestic large-cap core equity manager, said Cynthia Akiyoshi, personnel management specialist for benefits administration in Hawaii’s Department of Human Resources Development.

The search is being conducted to potentially replace domestic large-cap core equity manager Victory Capital Management, which has underperformed over the long-term. Victory is invited to rebid.

As of Sept. 30, the 457 plan had $2.1 billion in assets and $51.2 million invested in the Victory Institutional Diversified Stock Fund.

The RFP is available on the website. Proposals are due by 3 p.m. Hawaii Standard Time on Feb. 15. A hiring decision is expected between May 31 and June 9.

A Victory spokesman declined to comment.

Investment consultant Segal Rogerscasey is assisting.