The Wyoming Retirement System, Cheyenne, hired Julius Baer to run $300 million in active international equities, said Harry Wales, deputy director. Julius Baer will replace Putnam, which was one of the finalists in the search, Mr. Wales said. Trustees of the $5 billion pension plan issued an RFP in November, following market-timing charges against Putnam. Julius Baer was selected primarily because of "a great three-year number," Mr. Wales said. Lazard Asset and Capital Guardian were the other finalists. Mellon HR and Investor Solutions assisted.
"We believe the initiatives which we've recently undertaken to win back investor trust will be a benefit over the long term," said Laura McNamara, Putnam spokeswoman.
Separately, the Wyoming Deferred Compensation Plan, also in Cheyenne, rehired R.V. Kuhns as investment consultant to the $204 million 457 plan, Mr. Wales said. The firm's current two-year contract will expire at the end of April, and a state statute required the search, he said. The new contract will expire June 30, 2006. No investment changes to the plan are expected, he said.
