Worcester (Mass.) County Contributory Retirement System is searching for an active domestic core fixed-income manager to run $38 million, and an active domestic large-cap growth equities manager to handle $48 million for the $255 million system. Funding for the fixed-income manager will come from a temporary Lehman Brothers Aggregate index portfolio run by State Street Global Advisors; funding for the equity manager will come from a Russell 1000 Growth portfolio also run by SSgA. Proposals may be sent to Rosemary Guillette, analyst with consultant Segal Advisors, at [email protected] Proposals are due Feb. 6.
Lynn (Mass.) Contributory Retirement System is searching for a manager to run $6.8 million in active domestic small-cap value and a manager to run $27.5 million in active domestic large-cap growth equities, said Kevin Leonard at consultant Segal Advisors. The $129 million system will fund the hirings from money parked in a Russell 1000 growth index account run by State Street Global Advisors. RFPs can be requested from Christopher Tehranian, analyst with Segal Advisors, via e-mail at [email protected] Proposals are due Feb. 6.
Flintshire County Council Pension Scheme, Mold, Wales, issued an RFP for a global custodian, according to a plan spokeswoman. Proposals are due Feb. 19. The L490 million ($793 million) plan had hired Deutsche Bank as global custodian 18 months ago; the decision to re-tender is believed to be linked to the sale of Deutsche's securities services operations to State Street Corp. in November. Lynne Blake, county treasurer, was unavailable by press time to confirm the reasons for the tender or comment on the tender. Mercer Human Resources Consulting is assisting.
Staffordshire County Council Pension Scheme, Stafford, England, issued an RFP for up to three money managers to run a total of L60 million ($96 million) in cash, said Richard Tettenborn, county treasurer. Current cash managers Investec Asset and Morley Fund Management, which run L30 million each, can rebid, Mr. Tettenborn said. Proposals are due Feb. 19. The L1.25 billion plan is conducting the search internally.
PNM Resources Inc., Albuquerque, N.M., plans a series of shortlist RFPs for high yield, private equity and hedge fund managers to run $18 million each, said Edmond Jeung, director-trust and corporate investments. Officials at the $340 million pension plan will issue the fixed-income RFP by mid-February; the private equity and hedge fund searches will follow, he said. All are new allocations. Funding for all three hirings will come from reductions in large-cap equity, to 32.5% of total assets from 40%, and core fixed income, to 22.5% from 25%, Mr. Jeung said. No terminations are expected. Watson Wyatt is assisting.
Caisse de Garantie du Logement Locatif Social, Paris, which administers the finances of France's state housing program, issued an RFP for a money manager to run e400 million ($416 million) in government bonds, said Marc Bonjour, caisse secretary general. The money is the agency's entire reserve used in guaranteeing loans taken out by private providers that build or manage housing projects for the state program, he said. Public Bank of France, a government treasury entity, manages the reserve, but the decision to conduct an external search was made after the caisse was separated from the Public Bank of France by parliamentary decree last year. No proposal deadline has been set; system officials expect to complete the process this year. No consultant is being used.
Montgomery County Public Schools Pension & Retirement System, Rockville, Md., at its March 14 board meeting will consider adding a market-neutral portfolio or convertible bonds, said Steven W. Watts, investment officer for the $600 million system.
Zurich American Insurance Co., Schaumburg, Ill., will issue an RFP by April 1 for a bundled provider to handle its $550 million 401(k)/profit-sharing plan, said Kathleen LeBoyer, human resources service center manager. Incumbent Deutsche Asset probably will be asked to rebid, Ms. LeBoyer said.
Irish National Treasury Management Agency, Dublin, this year will consider appointing managers to run new small-cap equity, corporate bond and property portfolios for the €7.4 billion ($7.8 billion) National Pension Reserve Fund, said Deborah Reidy, head of investment manager selection. Details have not been finalized.
Steelworkers & Highway Contractors, Pennsylvania Locals, Coatesville, is undertaking a review of its $84 million pension plan, said Joe M. Padavan, trustee. Manager changes are expected when the results of the review are presented Feb. 7, he said. Yanni Partners is doing the review.