Los Angeles City Employees' Retirement System issued an RFP for an active emerging markets manager to run $150 million for the $6.9 billion fund. It is available on the fund's website, www.lacers.org, and proposals are due Aug. 8.
Gainesville City Employees' Pension Fund, Gainesville, Fla., on July 15 will issue an RFP for a consultant to advise its $70 million consolidated police officers and firefighters pension plan, said Ken Bess, pension investment analyst. Plan officials are looking for consistency after personnel changes at current consultant Watson Wyatt, he said. Watson Wyatt will be asked to rebid. Proposals are due Sept. 16, Mr. Bess said. RFP requests should be submitted to Ralph Wisco, senior buyer for purchasing department; P.O. Box 490, Station 32; Gainesville, FL 32602.
Indiana Public Employees' Retirement Fund, Indianapolis, expects to launch searches in mid- to late July for global active core and growth equities managers, said CIO Patricia J. Gerrick. The $10 billion fund will allocate $200 million each to the portfolios, she said. Also, the fund plans to conduct asset-liability and asset allocation studies in the fall, said Ms. Gerrick. The fund hired Milliman & Robertson to conduct an actuarial audit to begin the process, said E. William Butler, executive director. Mercer Investment Counseling will assist.
Rhondda Cynon Taff County Borough Council pension plan, Porth, Wales, this month will search for a manager to run L120 million in U.K. fixed income. The L900 million ($1.4 billion) plan is taking a more specialist approach based on a review conducted earlier this year, said Yvonne Keitch, head of investments.
Alaska Permanent Fund Corp., Juneau, is seeking information on back-office systems to handle data and reporting for its $8.8 billion domestic fixed-income portfolio. The $24.3 billion pension fund uses a variety of systems and has to "cut and paste data" to perform analytics, said Marshal Kendziorek, director of information technology. The system wants an off-the-shelf application that is specifically geared for U.S. fixed-income instruments and capable of providing a full array of analytics. Proposals are due July 15.
El Paso Firemen & Policemen's Pension Fund, El Paso, Texas, with $474 million, will start an asset allocation study this month, said Robert J. Stanton, pension administrator. He expects the study to conclude by September and said a change in managers was possible. The study will be conducted by Summit Strategies, which recently replaced Mercer Human Resources as the plan's consultant.
Oregon Public Employees' Retirement Fund, Salem, is seeking a new active core international equities manager to run $150 million, said Jay Fewel, senior equities investment officer. Officials at the $36 billion system will fund the move by reducing a $2.4 billion passive international equities portfolio managed by Barclays Global Investors.
Ohio Police & Fire Pension Fund, Columbus, plans to search before the end of the third quarter for a manager to run $90 million active domestic large-cap growth equities. Current manager AllianceBernstein is being terminated because of pending civil litigation against parent Alliance Capital over investments in Enron Corp., said Amy Hoiland, communications manager for the $8.2 billion plan. John Meyers, an Alliance spokesman, declined to comment. Wilshire Associates will assist.
Tallahassee 401/457 Pension Plan, Tallahassee, Fla., is preparing an RFP for a third-party administrator, said Darrell Thompson, acting treasurer-clerk. Prudential Investment Management has administered the $153 million plan for the last 10 years and can rebid, he said. Prudential's contract is due to expire, and the state requires competitive bids for all contractual services. RFPs will be available from Tallahassee's procurement department.
University of Montana Foundation, Missoula, will undertake an asset allocation study, said Ted Delaney, vice president of operations. Newly hired consultant Calipur Consulting Associates will conduct the study. The $71 million foundation has all of its assets in various Vanguard passive index accounts, and did not use a consultant, he said. Calipur will present its conclusions in September, he said. The plan likely will shift some assets to active management, he said. Mr. Delaney would not provide further details.
Wayne State University Foundation, Detroit, will conduct an asset allocation study of its $150 million endowment, said David P. Harmon, assistant director of endowment management. Ennis Knupp, the endowment's new consultant, will advise. The current allocation is 70% equity and 30% fixed income.