New Orleans Employees Retirement System will reactivate an invitation-only search, initiated last year, for a manager to run $100 million in core fixed income, said Jerry Davis, board chairman. The $350 million plan put the search on hold until after local elections and the election of board trustees. He said fixed-income finalists should be selected by the end of June. Incumbent fixed-income managers Orleans Capital Management and Zurich Scudder were invited to rebid, Mr. Davis said. Consultant Morgan Stanley is assisting.