Arizona State Retirement System, Phoenix, in the next two months will issue RFPs for up to three managers to run a total of $2 billion in active domestic large-cap core equities for the $20 billion pension plan, said Paul Matson, chief investment officer. Funding will come from reducing active domestic large-cap core equity portfolios run by J.P. Morgan Fleming and Mellon Equity, each with $1 billion. Mr. Matson said the search is due to "modest performance in that asset class, but both managers will be asked to rebid. Further details have not been finalized, he added.
Mercer Human Resources is advising.