City of Jacksonville (Fla.) General Employees' Pension Fund soon will issue RFPs for two active domestic small-cap managers, one value and one growth, each to run $100 million. The value manager will replace Loomis Sayles, which was terminated because the fund's board of trustees wanted to change managers, said Angela Wester Morrow, pension coordinator. She refused further comment. The growth manager will be the first for the $1.6 billion plan. Funding will come from active domestic value equities, said Ms. Wester Morrow. She declined to provide details. Proposals are due Sept. 1; interested firms should e-mail proposals to [email protected] Selections will be announced at the end of September. Merrill Lynch is assisting.
Florida State Board of Administration, Tallahassee, will issue an RFI this month for an education consultant for its new defined contribution program, said Tom Herndon, executive director. Mercer will be general consultant for transition planning and act as third-party administrator. The $103 billion fund expects to hire a consultant for investment services soon. The board has posted its policy statement, which will govern the operation of the defined contribution plan, on its website, www.fsba.state.fl.us.
Orange County Employees' Retirement System, Santa Ana, Calif., plans to issue an RFP for a real estate consultant. The $4.4 billion system's real estate allocation is $320 million.
Lynn City (Mass.) Contributory Retirement System is searching for a custodian. RFPs are available; the deadline for proposals is Sept. 7. The $163 million system's current custodian is Investors Bank & Trust, but the system wants to see what else is available. Segal Advisors is assisting.
City of Lincoln (Neb.) Firemen's & Policemen's Retirement System's RFP for a provider for its new deferred retirement option plan should be issued by Aug. 21, according to Paul Lutomski, pension officer. Interested firms will have approximately six weeks to submit proposals.
Marin County Employees' Retirement Association, San Rafael, Calif., expects an asset-liability study to be completed by year end, said Norm Klein, retirement administrator. The $960 million fund's new consultant, Callan Associates, is conducting the study. Callan replaces InvestorForce. Mr. Klein said the board will resume consideration of active approaches for a $48 million passive EAFE and a $41 million passive domestic small-cap growth portfolio. Both are managed by BGI, which runs several other portfolios for the fund. Previous searches for active managers were delayed pending the hiring of a new consultant.
