Vermont Pension Investment Committee, Montpelier, is searching for outside counsel to provide legal advice on investments, according to Jeb Spaulding, the state treasurer, whose office is handling the search. The committee oversees investments for the $1.38 billion Vermont State Teachers' Retirement System, the $1.17 billion Vermont State Employees' Retirement System and the $264 million Vermont Municipal Employees' Retirement System. "As some of the investment products that we're considering get more complicated and sophisticated, we want to get the most current and expert advice we can," Mr. Spaulding said. Responses to the RFP are due in the treasurer's office by 2 p.m. EDT on June 8. Questions can be directed to Donna Holden, contracts administrator, at 802-828-3708.
Teacher Retirement System of Texas, Austin, issued an RFQ for an outside counsel to provide legal services relating to the $100 billion system's alternative assets, which include hedge funds, private equity and real estate, as well as its equity and fixed-income portfolios; securities litigation; fiduciary responsibilities and other areas. The RFQ is available on the Texas Building and Procurement Commission's website at http://esbd.tbpc.state.tx.us/1380/bid_show.cfm?bidid=64753. Responses are due by 5 p.m. CDT June 15.
Indiana State Teachers Retirement Fund staff will recommend that Callan Associates perform an asset-liability study, said Robert D. Newland, chief investment officer of the $8 billion Indianapolis-based fund. The staff will make the recommendation at the fund board's May 25 meeting. Mr. Newland expects Callan to "go over whatever is out there (in terms of asset classes) and see what fits." The fund's current asset allocation is 51% domestic equity, 22% domestic fixed income, 20% international equity, 5% absolute return strategies and 2% private equity.
Anne Arundel Retirement Systems, Annapolis, Md., will begin an asset-liability study near the end of the month, said John Hammond, budget officer and investment committee chairman. The investment committee of the $1.3 billion system conducts such studies annually, he said. It should be completed in the fall. New England Pension Consultants is assisting. The plan's asset allocation is 28.7% domestic midcap and large-cap equities, 14.2% domestic core fixed income, 13.7% international equities, 11.8% domestic small-cap equities, 6.3% high yield bonds, 6% global bonds, 4.9% general insurance, 4.4% emerging market equities, 3.8% real estate equity, 3.5% cash and short-term assets, and 2.7% alternative investments.