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June 09, 1997 01:00 AM

CHANGES AHEAD: ORLANDO FUND SEEKS MASTER CUSTODY BIDS

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    ORLANDO, Fla. - The City of Orlando General Employees' Pension Fund will issue a request for proposals for a master custodian in the next three weeks, said Janice Hameline, executive assistant.

    The fund now uses State Street Bank & Trust, which will be allowed to bid. The $420 million fund decided to issue RFPs after the firm's contract expired. A due date for the RFP hasn't been set. Measurement Consulting probably will assist in the search.

    Arkansas Public Employees

    LITTLE ROCK, Ark. - The Arkansas Public Employees Retirement System, may move a portion of its fixed-income assets into high-yield bonds and timberland.

    Loomis, Sayles & Co. currently manages $600 million, or about 50%of the $1.1 billion fixed-income portfolio. Performance "has been so-so," said Kie D. Hall, executive director of the $3 billion fund. The finance committee is expected to make a recommendation on the move soon. The board will make a final decision in August.

    A review of the equity portfolio is also scheduled in the next couple of weeks. The annual review is expected to be finished in November. Callan Associates Inc. is assisting.

    Volvo-GM Heavy Truck

    GREENSBORO, N.C. - Volvo-GM Heavy Truck Corp. is searching for a trustee for its $100 million pension plan.

    NationsBank had been trustee before its trust business was purchased by Bankers Trust Co.

    Officials are considering staying with Bankers Trust, but also are looking at other trustees, said Fred Ward, treasurer.

    A decision is expected by the end of June. Merrill Lynch is assisting.

    Warren Employees

    WARREN, Mich. - The Warren General Employees' Retirement System is considering balanced managers for its $100 million fund, said Christine Cassani, accountant.

    Board members are discussing whether to abandon the current portfolio structure of 60%equity, 35%fixed-income and 5%real estate run by seven separate managers. Members believe a balanced approach using fewer managers might improve yield, Ms. Cassani added. Discussion may continue at the July 30 board meeting.

    Smith Barney is assisting.

    Carmel Police and Firemen

    CARMEL, Ind. - Police & Firemen's Insurance Association of Carmel is searching for a second outside manager for its $47 million insurance fund.

    The association is looking at a list of candidates with help from consultant Smith Barney.

    The new manager will handle $2 million in domestic equities and is expected to be hired in July, said Jeff Wellner, vice president and treasurer.

    Conseco Capital Management recently was hired as the fund's first outside manager to manage $2 million in small- to midcap equity.

    Ventura County

    VENTURA, Calif. - The $1.5 billion Ventura County Employees Retirement Association issued an RFP for an consultant.

    Only eight or nine firms were sent the RFP, including incumbent Asset Strategy Consulting, said Van Perris, retirement manager for the $1.5 billion fund.

    Trustees decided to do a search after Asset Strategy proposed an increase in its fees. RFPs are due June 9.

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