Indiana State Teachers' Retirement System, Indianapolis, will send out RFPs for international equity managers in the next 30 to 45 days, said Robert D. Newland, investment officer for the $4 billion fund.
The fund will seek firms for a $150 million EAFE-style mandate with no emerging markets exposure.
Also, board members are meeting this week with finalists for a $385 million passive U.S. equity portfolio and a $135 million enhanced passive U.S. equity portfolio. The board is expected to make a decision tomorrow. The board's decision needs state agency approval. Once contracts are signed the fund most likely will make its first move into equity by July 1.
Funding for much of the assignment probably will come from two of the fund's fixed-income managers, whose parents plan to merge - Banc One and First Chicago NBD. Together they manage $1.5 billion for the fund.