West Springfield (Mass.) Contributory Retirement System is searching for two active domestic large-cap equity managers, said Anne Wojcik, retirement director. Each firm will run $17 million, one in value and one in growth. Chase Investment Counsel now manages the growth portion for the $52 million pension fund, and Systematic Financial Management runs the value portion. The current managers' contracts expire June 30, 2006, and plan officials want to look at other managers, Ms. Wojcik said. Plan officials have been concerned about fee increases by both managers and performance issues with one of the firms, which she would not identify. Chase and Systematic will be reconsidered, Ms. Wojcik said.
Neither David B. Scott, senior vice president and director of Chase Investment Counsel, nor Kenneth Burgess, portfolio manager at Systematic, returned calls by press time. Lillian Jones, managing director with plan consultant Dahab Associates, also did not return a call seeking comment.
The RFPs are available on Dahab's website, www.dahab.com, and proposals are due at 5 p.m. EDT Sept. 30. Ms. Wojcik said no timetable has been set for presentations and selections, which are not likely until early 2006.
