Westfield Contributory gets active with international, small-cap equity

Westfield (Mass.) Contributory Retirement System is searching for managers to run a combined $30 million in active international core, international small-cap and emerging markets equity, confirmed Raymond Depelteau, chief investment officer.

The $150 million pension fund is shifting its entire international equity portfolio to active from passive in an “effort to get more alpha in this area,” Mr. Depelteau said in an e-mail.

The “majority” of the $30 million will go toward international core, but the final allocations will depend on the quality of the responses, Mr. Depelteau said.

There is currently no allocation to international small cap. State Street Global Advisors currently manages 15% of plan assets in an MSCI EAFE index fund and 6% in an MSCI Emerging Markets index fund. It is possible some assets could remain with SSgA, Mr. Depelteau said.

The RFP notice is available on the Massachusetts Public Employee Retirement Administration Commission's website. The entire RFP can be obtained by e-mailing Lynn Rea, retirement administrator. Proposals are due at 4 p.m. EDT Sept. 14. A hiring date has not been determined.