District of Columbia Retirement Board trustees will search for an investment consultant. Current consultant RogersCasey was acquired last month by Capital Resource Advisors. Trustees of the $2.1 billion system agreed to keep CRA RogersCasey in the interim, putting it on watch, and allow it to bid. The board also is searching for a consultant to conduct a periodic review of its minority participation programs. The deadline for proposals for the minority review is May 9.
Indiana Public Employees' Retirement Fund, Indianapolis, is searching for managers to handle concentrated active domestic large-cap portfolios, investing $500 million each in growth and value styles, said Patricia J. Gerrick, chief investment officer. Each concentrated portfolio should have no more than 50 stocks, she said. The $10 billion fund plans to hire at least one growth and one value equity manager, although it might hire more, depending on the responses, she said. The deadline for proposals is May 17. Funding will come from reducing an S&P 500 index fund managed by Barclays Global Investors, which now has $3.5 billion. Mercer Investment Consulting is assisting.
Plymouth County Retirement System, Plymouth, Mass., is searching for a real estate investment manager to run $8 million in a REIT or a commingled fund for the $424 million pension plan, said John F. McLellan, chairman and treasurer. Proposals are due in mid-May, he said. Interested parties should contact Wainwright Investment Counsel at www.winvcounsel.com.
Washington State Investment Board, Olympia, is searching for a manager to run $18 billion in indexed equity assets benchmarked to the Wilshire 5000 index, said Gary Bruebaker, chief investment officer and acting CEO for the $53 billion system. The portfolio now is managed by BGI, which can rebid. The board seeks bids on all contracts in the fifth year. The deadline for proposals is June 14. R.V. Kuhns is consultant. The board also is searching for a provider to run a new 529 college savings plan. The deadline for that search is May 10, Mr. Bruebaker said.
Ohio Public Employees Retirement System, Columbus, will issue an RFI soon for an active emerging markets manager to handle $200 million, said Neil Toth, director of investments. The $54 billion plan is terminating Deutsche Asset Management because of organizational changes stemming from the firm's acquisition of Scudder Investments. Ennis Knupp is assisting.
West Virginia State Teachers' Defined Contribution Plan, Charleston, soon will search for a service provider to supply record keeping and other ancillary services, said Michael Atkins, acting director. The $300 million 403(b) plan has not issued RFPs or established a deadline for proposals. The plan has an unbundled approach, investing in seven mutual funds and a GIC account. Milliman USA, the current record keeper, is eligible to bid. Mercer Investment Consulting is assisting.
Doane College, Crete, Neb., is undertaking an asset allocation study of its $70 million endowment, said I.E. Khouri, vice president for finance. The study, conducted annually, will be finished in May. The fund's asset allocation is 43% domestic equity, 14% international equity, 19% domestic fixed income, 14% alternatives and 10% cash. Asset Management Group is assisting.
Valspar Corp., Minneapolis, is conducting an asset allocation study of its $100 million pension plan, said Vincent Opat, director of compensation and benefits. The study is the first since Valspar acquired Lilly Industries in 2000. He said it is too early to predict changes in investment managers. The current allocation is 60% equity and 40% fixed income, he said. Watson Wyatt is performing the study, which will be concluded in May.
Pensacola General Pension Retirement Fund, Pensacola, Fla., is conducting an asset allocation study of its $72 million Firefighters Relief & Pension Plan, said Cheryl Jackson, senior administrative officer. Plan officials are considering moves to domestic midcap and small-cap equity portfolios in both growth and value styles. The study will be completed in May, after which a search for managers will be likely. The fund's asset allocation is 65% equity and 35% fixed income. Merrill Lynch is assisting.
Elgin Police & Fire Pension System, Elgin, Ill., is undertaking an asset allocation study of its $30 million fire pension plan, said Anthony Bialek, fire plan secretary. Marquette Associates is conducting the study. The plan does not use external investment managers but may issue RFPs when the study is concluded in May, he said. Its asset allocation is 55% equity and 45% fixed income.