Shrewsbury (Mass.) Contributory Retirement System is looking for an active U.S. midcap core, growth or value equity manager to run $12.5 million and an active U.S. small-cap core equity manager to run $10 million.
Dahab Associates, investment consultant for the $125 million pension fund, is assisting with the search.
The pension fund's domestic equity investments are now managed by the $71.8 billion Massachusetts Pension Reserves Investment Trust, Boston, said Gregory A. McNeillie, investment consultant at Dahab, in an email. Funding will come from the pension fund's current investment in the PRIT domestic equity sleeve.
"In our recent asset allocation review with the board, we determined that value could be added by separating out midcap and small cap," Mr. McNeillie added.
The small-cap and midcap RFPs are both available on Dahab's website. Small-cap proposals are due by noon EDT Oct. 29, while midcap proposals are due by noon EDT Oct. 30. Selection dates have not yet been determined.
Gregory Gatsogiannis, executive director of the pension fund, referred questions to Mr. McNeillie.
The pension fund's target asset allocation is 50% MassPRIT, 30% domestic equity, 12.5% fixed income, 5% international equity and 2.5% real estate.