Sanibel (Fla.) General Employees' Retirement Plan selected Dana Investment Advisors, HGK Asset Management and Hutchens Investment Management as finalists in its search for an active domestic large-cap core equity manager to run about $3.4 million, said Renee Lynch, city finance director. She said officials at the $7.4 million pension fund plan to terminate State Street Global Advisors, the existing portfolio manager, for performance. Arleen Roberts, SSgA spokeswoman, did not return a call seeking comment by press time.
The board might consider local firm Sanibel Captiva Trust, which has not yet submitted an RFP. Finalists will make presentations at a special meeting Jan. 12, when the board will likely make a selection. Dahab Associates is assisting.
The plan's asset allocation is 45.2% domestic equity, 9.2% international equity, 45.1% fixed income and 0.5% cash.