Shrewsbury (Mass.) Contributory Retirement System issued an RFP for an active domestic large-cap value equity manager to run $6 million, benchmarked to the Russell 1000 index, said Mary Thompson, town accountant and ex-officio retirement board member. FA Asset Management runs the portfolio; officials at the $46 million pension fund are concerned about the performance of the asset class and are "looking to see what's out there," Ms. Thompson said. Officials at FA Asset Management didn't return a call by press time seeking comment.
The RFP is available on consultant Dahab Associates' website, www.dahab.com; proposals are due Oct. 8, and Dahab will review and rate the proposals in mid-November, after which three finalists will be chosen. A date for making a selection not been determined.
The plan's asset allocation is 50% domestic equity, 10% international equity, 35% fixed income and 5% real estate.