The $1.8 billion pension fund's board placed the firm on watch because the leader of the portfolio management team is retiring at the end of 2019, recently released Sept. 12 meeting minutes show.
As of Oct. 31, the actual allocation to domestic smidcap equities was 5.1%; the target is 5.5%. QMA is the other active domestic smidcap core equity manager and runs $45 million.
Investment consultant NEPC assisted.
Chief Investment Officer Michael Becker could not be immediately reached to provide further information.