New York City Deferred Compensation Plan will issue an RFP on July 28 for a manager of institutional separate accounts to run a $145 million Russell 2000 index portfolio, part of the plan's $785 million blended small-cap fund, said Dean Weltman, plan compliance officer at the $5.5 billion plan. Current manager Vanguard can rebid. Proposals will be due Sept. 7, and a selection will be made around Nov. 15, Mr. Weltman said. Mercer Investment Consulting will assist.
The other managers of the blended small-cap fund won't be affected; they are T. Rowe Price, which manages $203 million in the growth component; Ariel Capital, $180 million, value; and Wellington Management, $257 million, core.
NYC Deferred also plans to issue an RFP for an investment consultant around Aug. 3, said Mr. Weltman. Current consultant Mercer Investment Consulting can rebid. Responses will be due Sept. 29, and a selection is expected around Dec. 16.
Both RFPs will be available on the plan's website at www.nyc.gov/deferredcomp.