REGINA, Saskatchewan - The City of Regina is searching for at least four domestic managers - core equity, bond, small-cap stock and balanced - for its C$540 million (U.S. $748 million) defined benefit fund. Allocations to each haven't been decided.
RFPs are due Aug. 27. The fund now has balanced portfolios with Conner, Clark & Lunn Investment Management and Altamira Management. Both firms will be included in the in-house search, said Randy Garvey, director of support services. The fund might hire more than one manager in the core equity and fixed-income mandates, he added.
The fund also hired SEI Capital Resources to complete an asset liability/allocation study in September. The study will show if other changes will be needed, such as adding an emerging markets mandate.
Saskatchewan Power Corp.
REGINA, Saskatchewan - Saskatchewan Power Corp., Regina, is searching for a Canadian equity manager for its C$500 million (U.S. $360 million) pension fund, according to a spokeswoman. Towers Perrin is assisting.
The fund hopes to complete the search and make a decision by October, she said. Details on the funding were unavailable.
East Bay Municipal Utility
OAKLAND, Calif. - The $420 million East Bay Municipal Utility District Employees' Retirement System may search for a small-cap value manager as a result of a review of its four domestic equity managers, said Lloyd J. Sawchuk, treasury manager.
The review includes a focus on small- to midcap value and growth managers and possibly increasing the allocation to one or both areas.
Fund officials should make a decision in September. If the fund decides to move ahead, "it would probably mean adding another manager" and doing a search, Mr. Sawchuk said. Mercer is assisting.
The fund is evaluating Denver Investment Advisers, which handles small- to midcap growth; Fidelity, large-cap growth; and Sturdivant and Institutional Capital, both large-cap value.
CHEYENNE, Wyo. - Wyoming Retirement System, Cheyenne, last week interviewed candidates for domestic equity index fund managers for its $3.1 billion pension fund.
The system plans to allocate 10% of assets to large-capitalization index fund, about 5% to a small- to midcap index fund, and 10% to a fixed-income index fund; details weren't available. Funding would come from reallocating among its eight managers.
Amesbury Town Retirement
AMESBURY, Mass. - The $17 million Amesbury Town Retirement System might be starting a search for a small-cap equity manager and REIT manager in the next month, said Sheryl Trezise, retirement administrator.
The fund probably will make small allocations to the new asset classes, to be funded from current stock and bond investments.
The search would be part of the restructuring started earlier this year.
Hannah Group would assist.