District of Columbia Retirement System issued an RFP for a new actuary. The $1.9 billion system's contract with Milliman USA expires June 30, 2004. Betty-Ann Kane, DCRB executive director, said trustees "just wanted to do a search." Milliman can rebid. Proposals are due March 31.
Cambridge (Mass.) Retirement System is searching for an active domestic large-cap growth equity manager to run $39 million, said Kevin Leonard, the consultant assisting the $438 million pension fund. RFPs are available from Christopher Tehranian at [email protected] Proposals are due April 7.
Berkshire Pension Fund, Maidenhead, England, issued an RFP for a global equities manager to run up to £80 million ($127 million), said Jack Johnson, council fund manager. "We commissioned an asset-liability study last year and the advice is we are too heavily weighted in U.K. equities," Mr. Johnson said. Proposals are due April 15; a selection is expected by October. The £800 million scheme reduced its U.K equity allocation to 60% of total assets, from 70%; the allocation eventually will be reduced to 50%, he said. Hymans Robertson is advising.
New Bedford (Mass.) City Retirement System issued an RFP for an active domestic small-cap-to-midcap growth equity manager to run $7 million, a new asset class for the $140 million system, said Kevin Leonard of consultant Segal Advisors. RFPs are available from Christopher Tehranian at Segal Advisors via e-mail at [email protected]; proposals are due April 10.
San Francisco City & County Retirement System was expected to issue an RFP late last week for one or more managers to run a total of $200 million in active domestic large-cap value equities for the $9.8 billion pension fund, said Clare Murphy, executive director. The search is being run through InvestorForce. Responses will be due April 25.
Swampscott (Mass.) Contributory Retirement System, with $23 million in assets, seeks an active core international equities manager to handle $2 million. Proposals are due April 14; RFPs are available from Rosemary Guillette via e-mail at [email protected]
West Sussex County Council Pension Scheme issued an RFP for a global custodian for a £355 million ($562 million) balanced portfolio managed by Baillie Gifford. The custody mandate may be extended later to cover the plan's £710 million in total assets, excluding direct property, according to a council spokeswoman. Proposals are due April 24. Hymans Robertson is advising.
Colorado Public Employees' Retirement Association, Denver, will search for a domestic value equity fund as an option in its $720 million 401(k) plan, said Katie Kaufmanis, director of communications. Plan officials will decide March 21 whether to use a consultant for the search.
Pekin (Ill.) Firefighters' Pension Fund is conducting a manager review and investment policy review. Charles E. Lauss, president of the pension board and assistant fire chief, said he is "positive" there will be investment manager changes as a result of the policy review by the $11 million plan's new consultant, Mitchell, Vaught & Walker.
Minneapolis Police Relief Association will begin an asset-liability study in April, said Renee Tessier, executive director. The study will be the $275 million pension plan's first since 2000, she said. Ennis Knupp will advise.
Village of Streamwood, Ill., plans to conduct an investment policy review and asset allocation study of its $18 million police pension plan, said David A. Richardson, finance director. Searches for managers could follow, he said.
Louisville Presbyterian Theological Seminary, Louisville, Ky., is conducting an asset allocation study of its $65 million endowment plan, said Marti Marsh, controller. Gerber/Taylor Associates, the plan's consultant, will present the results to the board by April, and plan officials might look to add a manager then.
University of Hawaii, Honolulu, is conducting an asset allocation study and manager review of its $48 million endowment, said Wick Sloane, CFO. The studies will be completed in April, he said. Wachovia Securities and Cambridge Associates, both consultants to the endowment, will advise.