Amesbury (Mass.) Contributory Retirement System will likely replace Bank of New York's BNY Hamilton small-cap growth fund, which has been on watch "for a while" because of underperformance, said Sheryl Trezise, plan administrator. The $29 million pension fund is looking for an active domestic small-cap growth equity manager to run $1.5 million to $2 million. Kevin Heine, Bank of New York spokesman, did not return a call seeking comment by press time.
The retirement board will consider extended small-cap growth and small-to-midcap growth managers. Plan officials could select finalists in August, and the goal is to have a manager in place by the end of the year, said Ms. Trezise.