Louisiana State Police Retirement System, Baton Rouge, will conduct a shortlist search for an active domestic large-cap value equity manager to run $25 million to $30 million, said Irwin L. Felps, executive director. The $300 million pension plan will have a list of candidates to contact by mid-November, he said.
Funding will come from an unidentified manager that runs the same amount in a similar style and is on watch for performance, Mr. Felps said. Plan officials will decide at the Dec. 18 board meeting if that manager will be included in the shortlist, he said. The manager's poor performance is more a result of its core tilt and not poor management choices, he said.
The plan's asset allocation is 51% equity, 47% fixed income and 2% cash. UBS PaineWebber PRIME Investment Consulting Group is advising.