U.S. Virgin Islands Government Employees' Retirement System, St. Thomas, will make a selection soon in its search for an investment adviser, said Willis C. Todmann, CFO. Finalists Segal Advisors, R.V. Kuhns, Callan Associates and Smith Barney made presentations to the board of trustees Feb. 28. Officials for the $1.3 billion fund issued an RFP in October for the fund's first outside investment adviser in several years.
Separately, the board continues to search for a new system administrator, but Mr. Todmann couldn't provide further details. Plan officials began the search after relieving prior administrator Laurence Bryan of his duties in November. Officials did not provide a reason for his dismissal and had initially hoped to have an administrator in place by the end of January.