Wyoming Retirement System, Cheyenne, sent out approximately 35 RFPs for an international equity manager, said Harry Wales, finance manager. The $4.4 billion fund is likely to hire one manager; funding will come from existing managers, he said. This is the fund's first international exposure; the mandate likely will be $200 million, or 5% of the fund. Wyoming Retirement staff also is writing an RFP for a domestic midcap and small-cap manager that likely will be sent out between May 15 and May 31. That mandate probably will be between $200 million and $250 million. Buck is consulting.
The Alaska Permanent Fund Corp., Juneau, has begun a search for an aggressive growth stock manager to run $250 million, said Jim Kelly, spokesman for the $24.4 billion fund. The search is expected to be completed by September. Callan Associates is assisting. No RFP was issued.
St. Louis Employees' Retirement System is searching for its first S&P 500 index fund manager to run $62 million and expects to interview finalists at its May 25 board meeting, said William Duffe, director for the $475 million fund. No RFPs were issued; all proposals will be handled by Mr. Duffe. "I would like to start receiving proposals as soon as possible," he said. Funding will come from terminating Mississippi Valley Advisors as a core large-cap U.S. equity manager, he said. Performance is not an issue, he added.
Oklahoma Law Enforcement, Oklahoma City, will issue an RFP for a small-cap growth manager sometime in June, said Mary E. Hanning, executive director for the $450 million fund. The new manager will replace George D. Bjurman & Associates, a small-cap growth U.S. equity manager that was terminated for performance reasons. Andrew Bjurman, president and chief executive officer for Bjurman, did not return phone calls by press time.
Longshoremen, ILA, Savannah, Ga., is considering whether to hire index fund managers to diversify its $239 million defined benefit plan, said Virginia Parham, fund manager. The issue will be discussed at next month's board meeting; no timetable is set for a decision, she said. Ronald A. Karp Associates is assisting.
University of Mississippi Foundation, Oxford, is conducting an asset allocation study and a manager review for its $220 million endowment, said Don Fruge, president. The process could lead to investment changes, he said. The current mix is 55% domestic equity, 10% international equity, 25% domestic bonds and 10% international bonds. No timetable was set for completion. Fund Evaluation Group will assist.
Community Foundation of Metro Tarrant County, Fort Worth, Texas, may begin an asset allocation study by June, said Leslie Pope, business manager. The $81 million foundation's current asset mix is 56% domestic equities, 2% international equities, 37% domestic bonds, 2% real estate and 3% cash and short-term investments. The study could be wrapped up by September and will be conducted internally, she said.