Memphis (Tenn.) City Retirement System will likely decide in the next 30 to 60 days whether to search for an active domestic large-cap equity manager to replace Transamerica Investment Management, said Charles Williamson, city finance director. The manager, which runs roughly $125 million for the $2 billion plan, has been under review for organizational reasons since earlier this year, he said. The review was prompted by the investment team leaving Transamerica, according to Mr. Williamson. Four equity portfolio managers moved to Delaware Investments from Transamerica earlier this year.
Plan officials are discussing the matter with consultant Wilshire Associates and will likely decide on a course of action by late August, Mr. Williamson said.