Oklahoma Firefighters' Pension & Retirement System, Oklahoma City, has sent out RFPs for an international equity manager or managers and a domestic small-cap growth equity manager or managers, said Ginger Poplin, controller. The $1.3 billion fund is searching for an international manager as part of its five-year cycle of manager reviews. She said Credit Suisse Asset Management, which runs an $80 million active EAFE portfolio, is expected to rebid.
Rogers Corp., Rogers, Conn., is searching for its first consultant to review its investment policy statement, possibly followed by an asset allocation study, said Robert Stoffer, corporate treasurer. No RFPs were issued; the search by the $48 million defined benefit plan is being conducted in-house. The current mix is 50% domestic equities, 10% cash and 40% domestic fixed income. A decision is expected by the end of the month.
Waltham (Mass.) Contributory Retirement System is planning to send out RFPs for two real estate managers and two venture capital managers sometime next month; it hopes to pick managers by the end of the year. At the same time, the $115 million fund has extended its search for domestic small-cap, midcap, large-cap and international stock portfolios until Sept. 30 because of a poor response to the initial RFPs, said Dick Zaccaro, the Wainwright Investment Counsel consultant who is assisting. The searches are a result of a new asset allocation recommended in July.
South Carolina Retirement System, Columbia, is in the initial stages of searches for a large-cap core U.S. equity manager; a large-cap value U.S. equity manager; and a small-cap to midcap core U.S. equity manager, said Sandra Morelli, the $19 billion fund's consultant at Mercer.
Westland (Mich.) Police & Fire Retirement System plans to begin a manager review after completing a consultant search for its $124 million defined benefit plan, said Diane Kinebrial, controller. Three finalists will be chosen at the board's Oct. 4 meeting. Finalists will be interviewed in November, when a decision is expected, she said.
Plumbers, Local 19, Salt Lake City, will search for a large-cap value U.S. equity manager after completing a search for a new consultant for its $88 million defined benefit plan, said Gary Roberts, business manager. Funding for the $19 million allocation will come from terminating Washington Capital Management, Mr. Roberts said. Performance is not an issue, he said. No timetable was set for completion.
Oklahoma Law Enforcement Retirement System, Oklahoma City, is considering an asset allocation study after completing a consultant search for its $450 million fund, said Mary E. Hanning, executive director. A decision is expected by December. Separately, Ms. Hanning said the fund plans to search for a small-cap growth U.S. equity manager once a consultant is hired.
City of Odessa, Texas, may search for an actuary for its $33 million defined benefit plan, said James Zentner, director of finance. Mr. Zentner said if a search is launched, incumbent Segal will be considered. "We just want to see what else is available," he added. A decision is expected next month.
Arnot-Ogden Medical Center, Elmira, N.Y., is conducting an asset allocation study and manager review simultaneously to see if changes are necessary for its $50 million defined benefit plan, said Marc Rustici, controller. The current mix is 65% domestic equities and 35% domestic fixed income. No timetable was set for completion. Prime Buchholz is conducting the study and review.
Bakery & Confectionery Workers, Kensington, Md., will conduct an asset allocation study in October for its $5.1 billion defined benefit plan, said Lewis Davis, pension fund manager. The current mix is 65% domestic equities and 35% domestic fixed income. No timetable was set for completion. The study will be conducted in-house.
Pasadena (Calif.) Fire & Police Retirement System expects to begin an asset allocation study by December for its $170 million defined benefit plan, said Mary O'Neil, administrator. The current mix is 53% domestic equities, 42% domestic fixed income and 5% cash. Mercer, recently hired as the system's first consultant, will conduct the study. No timetable was set for completion.