Illinois State Board of Investment, Chicago, plans to issue an RFP for a research firm specializing in global security risk to screen out prohibited investments connected to Sudan, said William R. Atwood, executive director of the $11 billion fund.
The board is doing the search internally It is being coordinated by Kym Hubbard, portfolio manager-emerging/minority managers. Mr. Atwood expects to present qualified applicants to the board for selection March 24.
Under a state law that takes effect Jan. 27, public pension funds in Illinois have to begin divesting such investments.
"We will make the list (of prohibited investments) available to all our managers," Mr. Atwood said. "We want to make sure that managers use the same list and that the list is public."
Managers can obtain their own screening service, but they have to make available to the board any screening list they use, he added. ISBI managers have to divest all securities of publicly traded companies identified as forbidden within six months, according to an ISBI memorandum.
