Sonoma County Employees' Retirement Association, Santa Rosa, Calif., is studying whether to shift its $152 million domestic large-cap growth equity portfolio to active management from passive, said Gary Bei, administrator. State Street Global Advisors now manages the portfolio. A decision might be made over the next two or three months, Mr. Bei said.
In addition, the $1.4 billion pension fund board is studying whether to permit Grantham, Mayo, Van Otterloo to include its Alpha-Only Fund as an investment option within a $145 million global equities portfolio managed for Sonoma County. The GMO portfolio invests in various underlying GMO funds. GMO may be required to make a presentation to the board, Mr. Bei said.
Ennis Knupp is the consultant.