New Mexico Public Employees' Retirement Association, Santa Fe, retained incumbent Bankers Trust for $1.1 billion in passive core and growth equity portfolios. Other finalists were State Street Bank and BZW Barclays. The search by the $4.3 billion fund was required by state law at the end of the four-year contract period.
Separately, Jeffrey W. States, director-investments, said trustees canceled a search for small-cap growth and value managers and will reissue RFPs in October. He said the search, to place $400 million, produced a smaller-than-anticipated number of responses, as well as incomplete responses by some managers.
