Mississippi Public Employees' Retirement System, Jackson, named finalists in its search for active domestic small-cap and midcap equity managers for the state's $1.8 billion 457 plan, spokeswoman Shelley Powers said in an email.
The retirement system's board named Aristotle Capital Management, QMA and Wellington Management as active domestic small-cap equity finalists and Aligned Investors, Champlain Investment Partners and J.P. Morgan Asset Management as active domestic midcap equity finalists.
The board conducted an invitation-only search because the RBC Small Cap Core fund, managed by RBC Global Asset Management, and the BNY Mellon Opportunistic Midcap Value fund, managed by Mellon Investments, have been on watch for underperformance since March 2016. The managers were not included in the search, Ms. Powers said.
The finalists will make presentations at a board meeting on Oct. 7.
The Mississippi Deferred Compensation Plan has a total of 15 investment options and a target-date fund lineup managed by Vanguard Group.
RBC Global spokesman Anthony Catinella could not be immediately reached to provide comment. A Mellon spokeswoman declined to comment.