Vermont State Teachers' Retirement System and Vermont State Employees' Retirement System, both of Montpelier, issued a joint RFI for active domestic large-cap equity and/or global equity investment managers that adhere to environmentally sound policies and business practices. State Treasurer Jeb Spaulding, a trustee of both the $1.34 billion teachers' system and the $1.09 billion employees' system, said after reviewing the RFIs, the boards of both systems will ask selected firms to submit proposals to run around $10 million for each plan. He said he hoped to have at least six managers from which to choose. He said no existing managers would be terminated and a decision on the funding source will be made in the summer.
"All of us on the board of trustees take seriously the responsibility that we employ managers that can make us the best risk-adjusted returns, and we are encouraged by the increasing evidence that managers that do focus on environmentally proactive companies can add value," Mr. Spaulding said. "But we really want to see what the proposals say before we pull the trigger."