New Mexico PERA to begin active U.S. large-cap value search

Public Employees Retirement Association of New Mexico, Santa Fe, will issue an RFP by Sept. 30 for at least one manager to run a total of $800 million in active domestic large-cap value equities, said Robert Gish, CIO of the $10.5 billion system. The portfolio is being managed by AllianceBernstein Institutional Investment Management and MFS Investment Management, whose contracts expire March 31. Each firm runs $400 million. MFS also is on watch for performance, Mr. Gish said, but both managers may rebid. Callan Associates is assisting. David Oliveri, spokesman for MFS, said the company wouldn't comment.