Skip to main content
MENU
Subscribe
  • Subscribe
  • Account
  • LOGIN
  • Topics
    • Alternatives
    • Consultants
    • Coronavirus
    • Courts
    • Defined Contribution
    • ESG
    • ETFs
    • Hedge Funds
    • Industry Voices
    • Investing
    • Money Management
    • Opinion
    • Partner Content
    • Pension Funds
    • Private Equity
    • Real Estate
    • Russia-Ukraine War
    • SECURE Act 2.0
    • Special Reports
    • White Papers
  • Rankings & Awards
    • 1,000 Largest Retirement Plans
    • Top-Performing Managers
    • Largest Money Managers
    • DC Money Managers
    • DC Record Keepers
    • Largest Hedge Fund Managers
    • World's Largest Retirement Funds
    • Best Places to Work in Money Management
    • Excellence & Innovation Awards
    • Eddy Awards
  • ETFs
    • Latest ETF News
    • Fund Screener
    • Education Center
    • Equities
    • Fixed Income
    • Commodities
    • Actively Managed
    • Alternatives
    • ESG Rated
  • ESG
    • Latest ESG News
    • The Institutional Investor’s Guide to ESG Investing
    • Climate Change: The Inescapable Opportunity
    • Impact Investing
    • 2022 ESG Investing Conference
    • ESG Rated ETFs
  • Defined Contribution
    • Latest DC News
    • DC Money Manager Rankings
    • DC Record Keeper Rankings
    • Innovations in DC
    • Trends in DC: Focus on Retirement Income
    • 2022 Defined Contribution East Conference
    • 2022 DC Investment Lineup Conference
  • Searches & Hires
    • Latest Searches & Hires News
    • Searches & Hires Database
    • RFPs
  • Performance Data
    • P&I Research Center
    • Earnings Tracker
    • Endowment Returns Tracker
    • Corporate Pension Contribution Tracker
    • Pension Fund Returns Tracker
    • Pension Risk Transfer Database
    • Future of Investments Research Series
    • Charts & Infographics
    • Polls
  • Careers
  • Events
    • View All Conferences
    • View All Webinars
    • 2022 Innovation Investing Conference
    • 2022 Defined Contribution East Conference
    • 2022 ESG Investing Conference
    • 2022 DC Investment Lineup Conference
    • 2022 Alternatives Investing Conference
Breadcrumb
  1. Home
  2. Print
August 23, 1999 01:00 AM

CHANGES AHEAD

  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    Indiana Public Employees' Retirement Fund, Indianapolis, has issued RFPs for fixed-income managers that do not give specific mandates, but ask for information on money managers' strongest bond portfolios, said Bill Butler, executive director of the $10 billion fund. The existing 16 managers were included in the search, which should be finished by the end of the third quarter or the beginning of the fourth quarter, with a total of nine bond managers hired. About 35% to 50% of the $4 billion domestic bond portfolio assets will be indexed, while the rest of the bond assets are likely to be divided between bond managers and minority and emerging managers, Mr. Butler said. Mercer is assisting. The fund also has started an asset-liability study, which should be complete by the first or second quarter of 2000, followed closely by decisions on asset allocation. The current asset mix is 60% equities and 40% bonds.

    Ventura (Calif.) County Employee Retirement Association is searching for a global bond manager, a small-cap growth U.S. equity manager and its first Russell 1000 index manager, said Van Perris, administrator. No RFPs will be issued; candidates will be recommended by Asset Strategy, consultant to the $2.1 billion fund. The new global bond manager will replace Delaware International Advisers, which runs $200 million, because of personnel changes, Mr. Perris said; the small-cap growth manager will replace Pilgrim Baxter & Associates, which runs $70 million, because of poor performance; and the Russell 1000 index manager will replace Trinity Investment Management, which runs $200 million in large-cap value U.S. equity, because of a style change and poor performance. Richard Unruh, Delaware Investment president, declined comment. Blake Gall, Trinity Investment chief investment officer, and Gary Pilgrim, Pilgrim Baxter CIO, did not return calls by press time. A decision is expected by October.

    Colorado Fire and Police Pension Association, Englewood, approved a range of $20 million to $40 million in additional commitments to private equity deals for next year. Pacific Corporate Group will screen the deals and make recommendations to trustees. The $2.4 billion fund also will begin an asset-liability study as soon as possible, said Bill Morris, chief investment officer. The study should be done by year's end or early 2000. The current target asset mix is: 35% domestic equities; 25% international equities; 18% domestic bonds; 8% global bonds; 8% real estate; 5% private equity; and 1% cash. Separately, trustees terminated Oppenheimer Capital as a large-cap equity manager and will temporarily place the $134 million portfolio in a $75 million Russell 1000 Value index fund managed by State Street Global Advisors. The staff is expected to make a recommendation in another few months on whether to search for another manager. Lastly, board members are considering whether they want to create a directed brokerage or soft-dollar program, and trustees are looking into educating themselves on the practices. No timeframe has been established for a decision.

    Orange County Employees Retirement System, Santa Ana, Calif., trustees adopted an asset allocation that increases U.S. equity by four percentage points and reduces U.S. fixed income by the same amount, said Farouki Majeed, investment officer for the $4.4 billion fund. The new target for domestic equities is 34% and domestic fixed income, 33%. Allocations to the other asset classes are unchanged. The board also placed Delaware International Advisers on a watch list for six months because of personnel changes, said Mr. Majeed; the portfolio manager assigned to Orange County's account recently left the firm.

    Fairfax County (Va.) Police Officers Retirement System, with $577 million in assets, is conducting a routine review of asset classes and money managers and might consider examining passive domestic equity management at its next board meeting in mid-September, said Laurnz A. Swartz, executive director. "That will be discussed in September, but I'm not sure whether there will be any conclusions," he said.

    University of Tennessee, Knoxville, endowment fund trustees are considering adding hedge funds as a separate asset class, said Charles Peccolo, treasurer. Trustees might decide about investing in the asset class at an October trustee meeting. Mr. Peccolo, who oversees the $365 million endowment fund, said they weren't considering a specific type of hedge fund. "It's a very generic discussion right now," he said.

    Catholic Healthcare West, San Francisco, is conducting an asset allocation study on its $1.6 billion defined benefit plan to see if changes are necessary, said Jessie Bean, treasurer. Mr. Bean said current investments include domestic fixed income, international equities, domestic equities, real estate and alternative investments. PaineWebber is conducting the study, which should be complete by December.

    Recommended for You
    Read the print edition of P&I
    Read the print edition of P&I
    How low is low? Projections say it's not low enough
    How low is low? Projections say it's not low enough
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    FINRA honors Wharton's Olivia Mitchell with Ketchum Prize
    OCIO, Anchor in Rough Seas
    Sponsored Content: OCIO, Anchor in Rough Seas

    Reader Poll

    May 9, 2022
    SEE MORE POLLS >
    Sponsored
    White Papers
    Are Factors a Thing of the Past?
    Q2 2022 Credit Outlook: Carry On
    Leverage does not equal risk
    Is there a mid-cap gap in your DC plan?
    Out of the Shadows: The Revolution in Shadow Accounting
    The pivotal role of fixed income markets in the ESG revolution
    View More
    Sponsored Content
    Partner Content
    The Industrialization of ESG Investment
    For institutional investors, ETFs can make meeting liquidity needs easier
    Gold: the most effective commodity investment
    2021 Investment Outlook | Investing Beyond the Pandemic: A Reset for Portfolios
    Ten ways retirement plan professionals add value to plan sponsors
    Gold: an efficient hedge
    View More
    E-MAIL NEWSLETTERS

    Sign up and get the best of News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    Subscribe Today
    May 9, 2022 page one

    Get access to the news, research and analysis of events affecting the retirement and institutional money management businesses from a worldwide network of reporters and editors.

    Subscribe
    Connect With Us
    • RSS
    • Twitter
    • Facebook
    • LinkedIn

    Our Mission

    To consistently deliver news, research and analysis to the executives who manage the flow of funds in the institutional investment market.

    About Us

    Main Office
    685 Third Avenue
    Tenth Floor
    New York, NY 10017-4036

    Chicago Office
    130 E. Randolph St.
    Suite 3200
    Chicago, IL 60601

    Contact Us

    Careers at Crain

    About Pensions & Investments

     

    Advertising
    • Media Kit
    • P&I Content Solutions
    • P&I Careers | Post a Job
    • Reprints & Permissions
    Resources
    • Subscribe
    • Newsletters
    • FAQ
    • P&I Research Center
    • Site map
    • Staff Directory
    Legal
    • Privacy Policy
    • Terms and Conditions
    • Privacy Request
    Pensions & Investments
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • Topics
      • Alternatives
      • Consultants
      • Coronavirus
      • Courts
      • Defined Contribution
      • ESG
      • ETFs
      • Hedge Funds
      • Industry Voices
      • Investing
      • Money Management
      • Opinion
      • Partner Content
      • Pension Funds
      • Private Equity
      • Real Estate
      • Russia-Ukraine War
      • SECURE Act 2.0
      • Special Reports
      • White Papers
    • Rankings & Awards
      • 1,000 Largest Retirement Plans
      • Top-Performing Managers
      • Largest Money Managers
      • DC Money Managers
      • DC Record Keepers
      • Largest Hedge Fund Managers
      • World's Largest Retirement Funds
      • Best Places to Work in Money Management
      • Excellence & Innovation Awards
      • Eddy Awards
    • ETFs
      • Latest ETF News
      • Fund Screener
      • Education Center
      • Equities
      • Fixed Income
      • Commodities
      • Actively Managed
      • Alternatives
      • ESG Rated
    • ESG
      • Latest ESG News
      • The Institutional Investor’s Guide to ESG Investing
      • Climate Change: The Inescapable Opportunity
      • Impact Investing
      • 2022 ESG Investing Conference
      • ESG Rated ETFs
    • Defined Contribution
      • Latest DC News
      • DC Money Manager Rankings
      • DC Record Keeper Rankings
      • Innovations in DC
      • Trends in DC: Focus on Retirement Income
      • 2022 Defined Contribution East Conference
      • 2022 DC Investment Lineup Conference
    • Searches & Hires
      • Latest Searches & Hires News
      • Searches & Hires Database
      • RFPs
    • Performance Data
      • P&I Research Center
      • Earnings Tracker
      • Endowment Returns Tracker
      • Corporate Pension Contribution Tracker
      • Pension Fund Returns Tracker
      • Pension Risk Transfer Database
      • Future of Investments Research Series
      • Charts & Infographics
      • Polls
    • Careers
    • Events
      • View All Conferences
      • View All Webinars
      • 2022 Innovation Investing Conference
      • 2022 Defined Contribution East Conference
      • 2022 ESG Investing Conference
      • 2022 DC Investment Lineup Conference
      • 2022 Alternatives Investing Conference