Oklahoma Law Enforcement Retirement System, Oklahoma City, hired active international equity managers Mondrian Investment Partners and Julius Baer to run $25 million each, pending successful contract negotiations, said Lawrence McCullock, executive director. Mondrian will run the money in a value style; Julius Baer will run growth. Funding will come from terminated manager Bank of Ireland Asset Management, which ran $50 million in activeinternational equities. Mr. McCullock said officials at the $590 million plan wanted more international small-cap to midcap investments, and Bank of Ireland offered mostly large-cap to mega-cap investments. Performance also influenced the plan's decision, he added. Stephen Holland, Bank of Ireland spokesman, did not return a call by press time seeking comment.
The hirings are the result of an RFP issued in the second quarter. The plan's asset allocation is 35% large-cap domestic equity, 30% fixed income, 15% small-cap domestic equity, 10% international equity, 7% real estate and 3% private equity. Asset Consulting Group assisted.