Los Angeles City Employees' Retirement System, with $6.6 billion in total assets, this morning posted a request for proposal on its Web site for a domestic large-cap value manager to run a $318 million portfolio.
The current manager of the portfolio, Loomis Sayles, is going through a reorganization. Loomis will be able to participate in the RFP.
Firemen's Retirement System of St. Louis probably will drop its balanced management mandate following the completion of an asset allocation study now under way, said John Brewer, executive director for the $450 million fund.
``I think the balanced mandates will be gone,'' Mr. Brewer said, although he declined to speculate on whether the study would result in manager searches. Mercer, the fund's retainer consultant, is likely to have the study's results and recommendations in September, he said.
The fund now has three balanced managers that oversee about 73% of the fund, he said.