City of Fitchburg (Mass.) Retirement System , with $61 million in...

City of Fitchburg (Mass.) Retirement System, with $61 million in assets, is searching for a core equity manager and a core fixed-income manager. The search is prompted by the departure of the portfolio manager who ran the bulk of the pension fund’s assets in a balanced portfolio at Family Bank. The pension fund, which uses Family Bank as its custodian, also is searching for a new custodian, said Kevin Leonard, the Segal Advisors consultant who is assisting. Family Bank intends to participate in all three searches, Mr. Leonard said. The equity manager will run $24 million; the fixed-income manager, $27 million. RFPs for the two investment manager searches are due May 21. Custodian proposals are due May 7.