Alabama Prepaid Affordable College Tuition Program, Mobile, issued an RFP for an active domestic large-cap value equity manager to handle $90 million, said Anthony Leigh, deputy state treasurer. The Alabama Treasurer's office oversees the $676 million 529 plan. Incumbent Bears Stearns Asset Management was placed on watch about a year ago because of performance. "The board will look at Bear Stearns' most recent performance numbers and make a decision (as to whether to terminate Bear Stearns) at the end of February," said Mr. Leigh. "In the meantime, they just wanted an RFP out there." A message left for Michelle O'Brien, a BSAM spokeswoman, was not returned. Callan Associates is assisting. The RFP can be found at www.treasury.alabama.gov. Proposals are due Feb. 15. A selection should be made by the end of the second quarter, said Mr. Leigh.
Los Angeles County Employees Retirement Association, Pasadena, Calif., issued an RFI for up to two active corporate governance managers to run a total of $300 million. The allocation is new. Funding will come from an $8 billion passive domestic equity portfolio managed by Barclays GIobal Investors, said Juan Almaguer, principal investment officer, public markets, for the $32 billion fund. The RFI is available on the association's website at www.lacera.com. Responses are due Feb. 24, and selections are expected in July.
Ohio Highway Patrol Retirement System, Columbus, issued an RFP for a general investment consultant. The $715 million plan puts the consultant contract out for bid every five years as part of meeting its fiduciary responsibility, said Richard A. Curtis, executive director and chief investment officer. Duties include conducting an asset allocation every three years (the next one is due November 2007); participating in an annual tactical asset allocation review; investment manager performance reporting; and assisting staff with RFPs and conducting manager due diligence, according to the RFP. Current consultant Callan Associates can rebid, he said. The RFP is available on the plan's website, www.ohprs.org; proposals must be postmarked by Feb. 28.
North Attleboro (Mass.) Contributory Retirement System is searching for an investment consultant, confirmed Debra Bush, executive secretary. The $50 million system's current consultant is Advest Custom Consulting, which has been purchased by Merrill Lynch and will no longer provide consulting services for public pension plans, Ms. Bush said. Warren Mulhern, senior consultant at Advest, and Megan Frank, a Merrill Lynch spokeswoman, were not available for comment. The RFP is available by contacting Ms. Bush at (508) 699-0119. Proposals are due at 4 p.m. EST March 10; fund officials have not set a timeline for making a selection.
Maryland Teachers & State Employees Supplemental Retirement Plan, Baltimore, issued an RFP for an investment consultant, according to Michael Halpin, executive director of the $2.1 billion system. The contract of current consultant Segal Advisors expires in May; the firm will be allowed to rebid. The new contract will be for three years, with a two-year renewal option. The RFP is available from the system's website, www.msrp.state.md.us. Proposals are due March 21; a selection is expected by May.
Montana Public Employee Retirement Administration, Helena, will start an asset-liability study sometime in the spring after the $4 billion plan hires a new executive director. The asset-liability study will be performed by investment consultant R.V. Kuhns. Officials hope to have it completed by mid-October. The system is advertising for an executive director and hopes to make its selection by March 31, confirmed board member Carole Carey. Michael O'Connor, former director of the $4 billion plan, retired Dec. 29. Interim director Roxanne Minnehan, who is fiscal services bureau chief, was not available for comment at press time.
