SEARCHES AND HIRES

Adams Retirement seeks passive manager for 85% of portfolio

Adams (Mass.) Retirement System is searching for a passive index manager to run about $27.2 million across multiple asset classes.

Fiduciary Investment Advisors, investment consultant to the $32 million defined benefit plan, is assisting with the search.

About 85% of the plan’s total assets will be dedicated to passive management in core fixed income benchmarked to the Bloomberg Barclays Aggregate index; domestic equity benchmarked to the S&P 500 and Russell 2000 indexes; and international equity benchmarked to the MSCI ACWI-ex U.S., MSCI EAFE and/or MSCI Emerging Markets indexes. The board expects to award the full mandate to one manager.

The RFP is available on Fiduciary Investment Advisors’ website. Proposals are due by 4 p.m. EST on Feb. 21. A selection date was not disclosed.

Further information could not be learned by press time. Matthew Fratini, research analyst at Fiduciary Investment Advisors, and Cheryl DeMarsico, retirement administrator for the plan, could not be immediately reached for comment.