The Attleboro (Mass.) Municipal Contributory Retirement System, with $42 million in assets, is searching for two equity managers and one fixed-income manager to run a total of $36 million. In equities, the fund seeks a core domestic manager to handle $17 million and a commingled domestic small-cap fund to run $2 million. In bonds, it seeks a core fixed-income manager to manage $17 million. RFPs are due Feb. 2; Segal Advisors is assisting. The fund currently has the bulk of its assets in a balanced portfolio with BankBoston, but concerns about high employee turnover and a change in investment style -- to a more fundamental style from a quantitative one -- prompted the searches, said Kevin Leonard, the Segal Advisors consultant who is assisting.
The $30 million Champaign (Ill.) Police & Firemen's Pension Fund is searching for its first international equity manager to provide more diversification, and expects to make a final decision at its Feb. 16 board meeting, said Richard Schnuer, treasurer. Mr. Schnuer said no RFPs were issued for the $1.5 million portfolio and the fund's consultant, Marquette Associates, is handling all proposals.
The $9.2 billion Kansas Public Employees' Retirement System, Topeka, is expected to issue an RFP for a small-cap U.S. equity manager shortly after its Jan. 15 board meeting, said Scott Peppard, assistant investment officer. The fund is looking to increase its small-cap U.S. equity allocation to 15% from 4% following an asset allocation study. Mr. Peppard said $260 million will be allocated to the new manager. Funding will come from reducing large-cap U.S. equity investments. Pension Consulting Group is assisting.
The $120 million Tulsa County (Okla.) Employees' Retirement System is expected to issue an RFP for its first S&P 500 index fund manager shortly after its Jan. 26 board meeting, said Robert Hyer, deputy treasurer. Mr. Hyer said about $25 million will be shifted from active core U.S. equities to fund the new manager, providing diversification. Marquette Associates is assisting.
The $62 million Lebanon County (Pa.) Retirement System is expected to begin searching for two to three additional managers following the completion of an asset allocation study, said Bob Mettley, county controller. The current asset allocation mix is 60% domestic stocks and 40% domestic bonds. C.S. McKee & Co. is the fund's sole manager. The study is expected to be complete by April. Spagnola & Cossack is conducting the study.
Alliant Techsystems, Hopkins, Minn., will meet with its consultant, Frank Russell, sometime this month to identify any underperforming managers and determine if a search to replace them is necessary, said Melanie Miller, manager of investment relations for the $1 billion defined benefit plan. A final decision is expected by February.
Trustees for the $600 million Orlando (Fla.) Public Employees Retirement System plan to start an asset allocation study in February. The current asset mix is 62% equities, 30% fixed income and 8% real estate. The study is to establish the amount of assets the police and fire funds, which are part of the retirement system, should invest internationally, according to Bruce Harter, treasurer.
The $200 million Milwaukee Drivers Pension Trust Fund is considering a search for an additional real estate manager to diversify the fund, said Geralyn Treis, administrative manager. LaSalle Advisors and NISA Investment Advisors now manage the fund's real estate allocations. No timetable was set for a final decision.
