Connecticut Retirement Plans and Trust Funds, Hartford, hired Merrill Lynch and Fidelity to run about $215 million each in active risk-controlled international equities. The managers replace DSI, which managed the portfolio passively. The hirings are subject to negotiations. The $20 billion system also hired hired Pension Consulting Alliance as its real estate consultant.
Separately, systems the investment advisory council heard presentations from finalists in its search for managers to run two portfolios. Morgan Stanley, Goldman Sachs, Clay Finlay and INVESCO are in the running for $860 million in international core equities; and Nordea, Capital Guardian and Putnam, $285 million in style-neutral international equities. No deadline has been set for selections.
State Treasurer Denise L. Nappier also submitted a proposal to change the systems $8 billion domestic equity program, allocating at least 30% of trading brokerage commissions to Connecticut-based brokers, 25% to minority- or women-owned broker-dealers, and 5% to emerging broker-dealers.