Belgacom Pension Plan, Brussels, is searching for two managers, one to run e180 million ($161 million) in global corporate bonds and one to handle a e170 million euro-zone indirect property portfolio, said Willem van Impe, chief investment officer. Proposals are due Oct. 2, site visits will be organized in October and November, and selections likely will be made by the end of the year, Mr. van Impe said. The 139.5 billion Belgian franc ($3.1 billion) plan will fund the portfolios with new contributions, now managed in an equity overlay portfolio by Barclays Global Investors. Plan executives also are considering a search for a fund-of-hedge-funds manager, he added. If trustees approve, a search will be conducted early next year.
Norfolk County Retirement System, Canton, Mass., is searching for a manager to run up to $30 million in international equities for the $390 million pension fund. RFPs are available from consultant Wainwright Investment Counsel. Proposals should be sent to Joan A. Ventura, executive director of the system, or Jon Fabrizio, investment analyst at Wainwright, by noon EDT Sept. 28.
International Paper Co., Stamford, Conn., will issue an RFP in early October for two fund-of-hedge-funds managers to invest a total of about $340 million for its $7 billion pension plan, said Robert Hunkeler, vice president of investments. The plan will overlay the fund-of-funds investments with S&P 500 futures. RFPs are available from BARRA RogersCasey. Mr. Hunkeler expects to complete the search by the end of the year.
Industrial Commission of Arizona, Phoenix, will begin a search in October for an active domestic large-cap growth manager to run $15 million, said Douglas Newton, administrative manager. RFPs will be available from Performance Analytics, consultant to the $220 million workers compensation fund. Neither the deadline for proposals nor a selection date has been set. Funding will come from previous manager Wilkinson & O'Grady, which was terminated for performance, he said. Representatives at Wilkinson & O'Grady could not be reached for comment by press time.
California Public Employees' Retirement System, Sacramento, plans to issue an RFP to hire an independent consulting firm to help create and implement a process for evaluating the fund's general consultants. They are: Wilshire Associates; Pension Consulting Alliance; R.V. Kuhns; and PCA/EY. The $155 billion fund plans to select an independent consultant in the fourth quarter.
Southern Illinois University Foundation, Carbondale, Ill., is conducting an asset allocation study, said Elizabeth Banycky, controller-treasurer of the $50 million foundation. Its current allocation is: 30% fixed income; 10% small-cap equities, based on the S&P 600 index; 15% international equities; 35% to 37% S&P 500 index equities, and 8% to 10% to the Banc of America Capital Management Diversified Value Mutual Fund. Ennis Knupp is assisting. The board conducts a review every three to five years to keep its portfolio updated, Ms. Banycky said. She would not say if manager searches might result.
Nestle USA Inc., Glendale, Calif., is conducting an asset allocation study of its $800 million plan, expected to be concluded this fall. The plan conducts a study every three to five years and no changes are expected, said Karin Brodbeck, manager, retirement investments. Frank Russell is assisting.
