Attleboro hires Herndon as active large-cap value manager

Attleboro (Mass.) Contributory Retirement System hired Herndon Capital Management to run about $15 million in active domestic large-cap value equities and rehired Boston Advisors to run about $15 million in active growth, confirmed Leslie J. Ring, retirement board administrator.

The $205 million pension fund issued an RFP in September seeking at least one large-cap manager to run active and/or passive strategies.

An additional passive hire will be made later in December, according to Steven Roth, director of manager research at Dahab Associates, the pension fund's investment consultant.

RhumbLine Advisers, which ran about $14 million in passive, was invited to rebid.

The RFP was issued because of Massachusetts state law requiring RFPs at least once every five years.