Worcester pension fund RFPs target emerging markets, index funds
By Kevin Olsen | October 4, 2012 12:31 pm
Worcester (Mass.) Retirement System is searching for an active emerging markets equity manager to run $70 million and at least one manager to run passive index funds totaling $225 million in six different strategies, confirmed Elizabeth Early, executive secretary.
The $700 million system is looking for passive managers for domestic large-cap core, value and growth equity, domestic midcap core equity, international developed equity and a natural resources strategy. State Street Global Advisors currently manages the six index funds and is invited to rebid. More than one manager could be hired, Ms. Early said in a telephone interview.
The pension fund currently invests in S&P 500, Russell 1000 Growth, Russell 1000 Value, S&P Midcap, MSCI EAFE and S&P Global Large Midcap Commodities and Resources index funds.
Emerging markets proposals are due at 4 p.m. EDT Oct. 23; index providers, 4 p.m. EDT Oct. 24. Pension fund officials anticipate making hires by the end of the year, Ms. Early said.