Chicago Public School Teachers' Pension & Retirement Fund hired MFS Investment Management to run $325 million in active international growth equities, pending contract negotiations with the $9.2 billion system. Northern Trust Global Investments and William Blair also were finalists. MFS offered the fund a fee of 39 basis points, a 27% discount from its regular fee. Deutsche Asset Management, which was terminated for performance and organizational changes, was invited to rebid.
"It would be a mistake not to give us another year," William F. Shiebler, CEO of DeAM Americas, told trustees; he acknowledged that there were problems but said they were being rectified.