Ohio School Employees Retirement System, Columbus, hired three active domestic large-cap value equity managers to run a total of $580 million, said Tim Barbour, spokesman, in an e-mail.
Funding comes from rebalancing the overall domestic equity portfolio. The pension fund had issued an RFP in October for a single active domestic large-cap value equity manager to run $125 million to complement existing managers. Whether any managers were terminated as a result could not be learned by press time.
As of March 31, the actual allocation to domestic equities was 22.2%. The pension fund’s domestic equity target is 22.5%.
According to its most recent comprehensive annual financial report, the pension fund’s domestic equity managers as of June 30 were Brown Capital Management; DePrince, Race & Zollo; Donald Smith & Co.; First Eagle Investment Management; INTECH Investment Management; Jackson Square Partners; Manulife Asset Management; and State Street Global Advisors.
Investment consultant Summit Strategies Group assisted.
Mr. Barbour did not respond to requests for further information by press time