Middlesex County Retirement System, Cambridge, Mass., is searching for a manager to run $20 million in active international equities for the $576 million plan. Proposals, which should be sent to Jon Fabrizio at consultant Wainwright Investment Counsel, are due by noon March 26.The portfolio's previous manager, Irish Life, ceased operations in the United States, Mr. Fabrizio said.
Archdiocese of Boston is searching for active equity managers to run an undetermined amount in domestic large-cap growth, domestic small-cap core or value, and active international portfolios, said David Smith, vice chancellor of financial affairs for the $750 million fund. The allocations to each manager will depend on which firms are hired, he said. Funding will come from rebalancing, and there are no plans to replace or change any allocations of existing managers, he said. The changes are the result of an asset allocation study done by consultant Madison Portfolio. Managers can contact Madison Portfolio for further information. The deadline for proposals is the end of March, said Fred Weiss, vice president of Madison Portfolio.
Southbridge (Mass.) Town Retirement System is searching for a manager to run $2.5 million in an S&P 500 index or S&P 500 enhanced indexed portfolio for the $17.4 million system. Proposals are due April 4. Funding will come from reducing allocations to existing managers. The search follows an asset allocation study conducted last year. Segal Advisors is assisting.
Flint (Mich.) Employees' Retirement System is searching for a bundled provider for its new defined contribution plan. The system's $800 million defined benefit plan will remain intact, with no changes to asset allocations or managers, said Robert Erlenbeck, the system's risk and benefits manager. The deadline for proposals, which can be sent to Mr. Erlenbeck, is April 12.
Vermont State Retirement System, Montpelier, is searching for a consultant for its teachers', state employees' and municipal employees' funds, which total $2.4 billion. State law requires the system to conduct searches every four years, said Jim Douglas, state treasurer. RFPs are available from Marie Duquette, director of investments. Deadline for proposals is 3: 30 p.m. EST, May 11. A selection will be made by the end of June, he said.
IBM Corp., Stamford, Conn., may add REITs and a high-yield bond fund to its $20 billion 401(k) plan, said Jim H. Rich, chief investment strategist. IBM officials also might add investment advice this year, and are considering both online and in-person options. The plan's options are divided into three tiers: lifestyle; core; and extended choice. The REIT fund would be added to the core tier, and high yield would be part of extended choice.
Stichting Pensioenfonds ABP, Heerlen, Netherlands, plans to launch two e100 million ($90.6 million) portfolios that will invest in ethically screened companies. This will be the fund's first attempt at ethical investing. The two portfolios, one covering the United States and the other Europe, are test-cases to see if socially responsible investing provides any financial gain beyond that of conventional equity investing, said Rene Maatman, chief counsel, legal and tax, at the e150 billion plan. The portfolios will be launched midyear and likely will be managed externally. A decision has not yet been made on managers. The ABP board still has to decide on the benchmarks, but they will be major market indexes, said Mr. Maatman.