California Public Employees' Retirement System, Sacramento, issued an RFI in the $166 billion system's search for as many as five managers to handle a total of up to $500 million in environmentally friendly equity strategies. CalPERS seeks responses from domestic and international equity managers no later than Sept. 24 via e-mail to [email protected] Separately, CalPERS next month will consider adopting a focused search to add firms to its "spring-fed pool" of active international equity managers. The fund has approximately $11 billion in active international equity.
Tamarac (Fla.) General Employees' Retirement System is searching for an active domestic fixed-income manager to run $5 million, said Gregory A. McNeillie, senior vice president at the plan's consultant, Dahab Associates. Officials at the $18.3 million plan are considering investing in lower-tier bonds, Mr. McNeillie said; incumbent Atlanta Capital Management strictly invests in higher-tier bonds but has been invited to rebid. The RFP is available on Dahab Associates' website, www.dahab.com; proposals are due Sept. 30, and Dahab will schedule finalist presentations for November.
Town of Plymouth (Mass.) Contributory Retirement System is searching for an active large-cap core equity manager to run $15 million. The RFP is available from Carol Tam, a Segal Advisors financial analyst, at cta[email protected]; proposals are due Oct. 6. The search was prompted by performance concerns about the existing large-cap equity manager, according to Debra Sullivan, director of retirement for the $85 million plan; she would not identify the firm.
Alabama Prepaid Affordable College Tuition Trust Fund, Montgomery, issued an RFP for a master custodian. Current custodian Compass Bank's three-year contract expires at the end of the year; Compass is being invited to rebid. Anthony Lee, spokesman for the $625 million fund, said it issues RFPs when contracts expire. Candidates are required to have custodial clients with more than $500 million in assets. The RFP can be found at www.treasury.state.al.us; proposals are due Oct. 7.
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.
Massachusetts Port Authority Employees' Retirement System, East Boston, is searching for an investment consultant to conduct an asset allocation study of the $290 million plan, review its investment policies and performance, and oversee managers. Proposals can be sent to Irene Moran, director of retirement, by Oct. 15. The consultant will work under a three-year contract effective Jan. 1.
Sanibel (Fla.) General Employees' Retirement System is searching for an active domestic large-cap core equity manager to run $2.5 million, said Renee Lynch, city finance director. Officials at the $7 million system plan to terminate the existing portfolio manager, State Street Global Advisors, for performance, according to Ms. Lynch. Arleen Roberts, SSgA spokeswoman, said the firm has no comment. The RFP is available on Dahab Associates' website, at www.dahab.com; proposals are due Oct. 14.
New York City Retirement Systems issued an RFP for at least one debt-based manager to handle economically targeted investments The investments would target low- to middle-income housing and community development in the city, according to Laura Rivera, spokeswoman for the $74 billion system. The RFP is available at www.comptroller.nyc.gov/bureaus/bam/rfps.shtm. No due date has been set.
Vermont's three statewide public retirement plans issued joint RFPs of $350 million to $450 million each for two S&P 500 index managers. One firm may run an enhanced portfolio, including portable alpha strategies, although applicants should provide information on a standard cap-weighted index as well; the other may run an equal-weighted fund. The $1.2 billion State Teachers' Retirement System, $1 billion State Employees' Retirement System and $218 million Municipal Employees' Retirement System are considering investing up to 80% of each plan's large-cap domestic equity allocation in passive strategies, compared with less than 30% for each at present, said David Minot, Vermont's director of finance & investment services. New England Pension Consultants is advising.correction appended)
