Springfield (Mass.) Retirement System issued RFPs for two managers to handle $40 million each in domestic core and core-plus fixed income for the $280 million plan. Funding will come from terminated balanced portfolios totaling $155 million, managed by Freedom Capital, MassMutual and Wellington.
Proposals are due by June 30, said Bill Monagle, vice president at consultant Wellesley Group, and proposals will be accepted from passive and active managers.
The system also hired four equity managers. They are: Simms Capital, to manage $25 million in active small-cap domestic growth; Earnest Partners and Wellington, $15 million and $10 million, respectively, active large-cap domestic value; and Merrill Lynch, $25 million, S&P 500 index. Funding came from the terminated balanced portfolios.