SEARCHES & HIRINGS
San Jose (Calif.) Retirement Systems is searching for a small-cap growth manager to run $25 million for the $900 million Federated City Employees Retirement System. Callan Associates is doing the preliminary screening; no RFPs will be issued, said Ed Overton, retirement administrator. Incumbent George D. Bjurman will be included in the search. A decision is expected in the first quarter.
Separately, PMRealty was hired to manage core real estate for the $1.3 billion Police & Fire Department Retirement Plan. The new portfolio will total $65 million or half of the $130 million allocation to real estate. Funding will come from cash.
Crabbe Huson and Provident Investment Counsel also were hired as small-cap value and small-cap growth managers, respectively. Each will run $30 million for the police and fire fund. Funding will come from terminating small-cap growth managers Apodaca-Johnston and Investment Advisers Inc. Mercer assisted.
Plymouth County Retirement System, Plymouth, Mass., is conducting a search for a consultant, said John McLellan, board chairman of the $300 million fund. The consultant, which could be hired at the Jan. 27 board meeting, will help fund officials decide whether to hire more money managers or allocate additional assets to existing managers.
The incumbent is Hannah Group, which will be allowed to respond to the RFP, Mr. McLellan said. He noted Hannah has undergone a number of personnel changes.
Evangelical Lutheran Church in Canada, Winnipeg, Manitoba, hired Knight Bain Seath & Holbrook Capital Management for its C$130 million (US$92.2 million) pension fund, said Carole Cockrell, executive director.
Knight Bain was assigned 50% of the fund to manage in a balanced portfolio. Funding came from Indago Capital Management, which had been the fund's sole manager and which will retain 50% of the assets, also in a balanced portfolio. Aon Consulting assisted in the change.
Battle Creek (Mich.) Police & Fire Retirement System hired Comerica to replace Old Kent Bank as custodian effective Jan. 1, said Stan Schubinski, treasurer of the $83 million fund. McDonald & Co. assisted.