Tulare County Employees' Retirement Association, Visalia, Calif., will keep Ivy Investments as its active domestic large-cap growth equities manager, running about $61 million, said David J. Kehler, retirement administrator, in an email.
The $1.3 billion pension fund launched a search in May after placing the manager on watch due to the recent departure of its large-cap growth portfolio manager, Daniel Becker.
Mr. Kehler said the board at its Aug. 22 meeting decided to retain Ivy and re-evaluate the manager in six months.
As of March 31, the allocation to domestic equities was 22.2%.
Investment consultant Verus Advisory assisted.