New Mexico Public Employees' Retirement Association, Santa Fe, will issue RFPs around Oct. 1 for an active small-cap equity manager and up to two mortgage managers of managers, said Robert E. Gish, director of investments.
The equity manager will run $300 million, possibly benchmarked to the Russell 2000 growth or Russell 3000 growth indexes, Mr. Gish said. The portfolio's current manager, American Express, is on the $9.4 billion plan's watchlist for performance; its contract expires March 31, 2005, he said. Leonard Lee, spokesman at American Express, said the firm's policy is to not comment on client accounts.
Current mortgage managers of managers Salomon Smith Barney and Smith Breeden each run $400 million; their contracts also expire March 31, 2005.
Mr. Gish said the fund has an open bid policy. Any firm wishing to bid should fax a request indicating the RFP in which they are interested to Mr. Gish at 505-827-6421, or call Barbara Montoya at 505-827-4707.
