Waltham (Mass.) Contributory Retirement System is searching for a manager to run $6 million in domestic high-yield fixed income, said Joseph Juppe, executive director of the $116 million pension plan. Funding will come from reducing high-quality domestic fixed-income portfolios, which are overweighted, said Mathew Seney, analyst for consultant Wainwright Investment Counsel. Proposals are being accepted through March 28 via Wainwright's website, www.winvcounsel.com.
Methuen (Mass.) Contributory Retirement System is searching for an active domestic core fixed-income manager to run $21 million for the $60 million plan, said Kevin Leonard, the Segal Advisors consultant who is assisting. The search was prompted by concerns over the performance of the incumbent manager, which he declined to identify. The existing manager will be allowed to rebid. RFPs are available from Segal; the deadline is April 8.
Natick (Mass.) Contributory Retirement System is searching for a manager to run $11.5 million in active domestic large-cap growth equities, said Kevin Leonard of consultant Segal Advisors. The $58 million system had performance concerns about its existing growth manager, which Mr. Leonard declined to name. The incumbent can rebid. RFPs are available by e-mail at [email protected]; the deadline for proposals is April 15.
Marlborough (Mass.) Retirement System is looking for a commingled real estate manager to run a $2 million to $5 million portfolio. The $53 million system seeks a manager with a diversified strategy investing primarily in "core" properties. Current manager SSR Realty Advisors' SSR Mac Trust fund is drawing down, said Margaret Shea, board administrator for the pension fund. RFPs are available by calling consultant Frank Benham at Meketa Investment Group at (781) 356-1400. Proposals are due 4 p.m. EDT April 26.
Ohio State Highway Patrol Retirement System, Columbus, is searching for three active managers for the following portfolios: domestic large-cap growth equities; domestic core-plus fixed-income; and international core/growth equities, said Richard Curtis, executive director. Exact portfolio sizes and funding sources have not been determined. The $600 million plan is making the moves as the result of a recently completed asset allocation study by consultant Callan. RFPs in all three searches are on the plan's website, www.ohprs.org.
Pipe Trades Pension Trust Fund, New Mexico, Albuquerque, is reviewing private equity and hedge funds as possible investments for the $380 million pension plan, said Edmond Jeung, director of trust and corporate investments. Consultant Watson Wyatt will give a report at the plan's May 16 board meeting. The fund's current asset allocation is 55% domestic equity, 8% international equity, 27% domestic fixed income, 9% alternatives and 1% cash.
The Art Institute of Chicago will undertake an asset allocation study of its $650 million in endowment and pension assets, according to an Art Institute news release. Cambridge Associates, recently hired to replace Kennedy Capital Advisors as the institute's consultant, will conduct the study and a review of investment policies and fund managers.
Prince William County Police and Fire Supplemental Retirement System, Woodbridge, Va., will undergo an asset allocation study, said Bob Willard, portfolio manager. Hammond Associates, recently hired as investment consultant by the $12 million system, will conduct the study. Results are expected in about three months.
Vermont State Retirement System, Montpelier, will conduct asset-liability studies of its three defined benefit plans - the $1.05 billion Vermont State Teachers' Retirement System, $950 million Vermont State Employees' Retirement System, and $175 million Vermont Municipal Employees' Retirement System. The study will be conducted in the second quarter, said James H. Douglas, state treasurer. New England Pension Consultants will assist.
Tasty Baking Co., Philadelphia, is conducting an asset allocation study with its new consultant, Hartland, for its $65 million pension plan, said Eugene Malinowski, treasurer. The study should be completed by June 30, and manager changes are possible, he added.
Colorado Public Employees' Retirement Association, Denver, will undergo an asset-liability study of its $27.5 billion pension fund. Barclays Global Investors will conduct the study, which is expected to be completed in July, said Katie Kaufmanis, director of communications.