Falmouth (Mass.) Contributory Retirement System will issue an RFP by year's end for a new real estate manager to run $3 million, said Margaret Correllus, administrator and board member. Funding will come from terminating Henderson Global, which runs a similar portfolio, Ms. Correllus said. Trustees of the $51 million plan are concerned about structural changes following Henderson Global's split from Australian parent AMP, she said. Responses will be due in January, and a new manager should be selected by March, she said.
Wainwright Investment Counsel is assisting.