New Mexico Public Employees Retirement Association, Santa Fe, expects to launch a search in January for managers to invest in enhanced index domestic stock portfolios where derivatives are used, said Robert E. Gish, CIO. The $8.4 billion system's contracts with its current index managers, Northern Trust and State Street Global Advisors, expire Sept. 30, 2004. The firms run a combined $2.5 billion; both can rebid, he said.
A new state law allows investments in enhanced indexes that include derivatives, Mr. Gish said. Callan Associates is expected to assist.
