Santa Clara Valley Transporta
tion Authority, San Jose, Calif., is narrowing a list of managers to invest the assets of its $150 million pension fund, now managed in-house.
Manny Bagnus, SCVTA's investment manager, said the fund's board met June 24 with consultant Mercer to discuss the potential candidates, and will meet with the firm again July 20 to review a list of finalists.
He said the fund is looking to hire one fixed-income manager and one manager each for large-cap value, large-cap index and small-cap value. The asset mix will be 58% fixed income, 21% large-cap value, 10% small-cap value, 10% large-cap index.
A final decision is expected by September, at which time SCVTA trustees also will decide whether to retain Mercer.
