New Mexico Public Employees’ Retirement Association, Santa Fe, plans to search this year for a mortgage manager, and an active domestic small-cap growth equity manager to handle $543 million.
The $8.2 billion fund’s contracts with current mortgage manager Smith Breeden and equity incumbent American Express expire in February and March, respectively, said Robert E. Gish, investment director. The board has not yet approved the RFPs.
Fund officials also expect to announce finalists by mid-August in their search for one or more index managers to run at least $1.3 billion total, Mr. Gish said. The new managers will take over a $600 million S&P 500 portfolio and a $700 million Russell 1000 large-cap growth portfolio run by Deutsche Asset, whose contract expires in September, Mr. Gish said.
Contestants were asked to send proposals for additional indexed investment vehicles, Mr. Gish said, explaining that the investment board may add indexed portfolios and wanted information about what was available. Funding would come from cash, he said.
