Clearwater (Fla.) Employees Pension Fund is searching for two active domestic growth equity managers to run $30 million each, confirmed Steve Moskun, cash and investments manager. The $524 million plan issued an RFP for a small-cap manager, while plan officials are conducting an invitation-only search for a midcap manager with the help of Marquette Associates, Mr. Moskun said. Both strategies are new and will help the plan diversify, Mr. Moskun said. Funding will come from rebalancing. The RFP for the small-cap manager is available on the website of Dahab Associates, the plan's consultant for the small-cap search, at dahab.com/Clearwater,%20FL-SCG-08_16_06-RFP.doc. Proposals are due by 5 p.m. EDT Aug. 16.
State of South Carolina Deferred Compensation Commission, Columbia, issued an RFP for an investment consultant for its $1.5 billion 401(k) plan and $831 million 457 plan, according to the plan's website. RFPs can be accessed online at www.retirement.sc.gov. Proposals are due Aug. 17. Segal Advisors is the consultant to both plans, according to the 2006 Money Market Directory. Peggy Boykin, executive director and chairman, did not return calls seeking additional information. Mary Feldman, spokeswoman for Segal Advisors, did not return a call for comment by press time.
Taunton (Mass.) Contributory Retirement System is pushing back its deadline to Aug. 21 on an RFP for a manager to run $16 million in an S&P 500 index fund or an enhanced S&P 500 portfolio, confirmed Paul Slivinski, executive director for the fund. The $159 million plan's previous deadline was Aug. 1; system officials wanted extra time to allow more proposals to be submitted, said Carol Tam, financial analyst for Segal Advisors, consultant to the plan. The RFP is available by contacting Ms. Tam at [email protected]
Illinois Teachers' Retirement System, Springfield, will search for an active domestic large-cap value equity manager at the end of the month, said Eva Goltermann, public information officer for the $36.8 billion pension plan. The amount of the portfolio has not been determined. Funding comes a $162 million portfolio run in a similar style by Great Lakes Advisors, which was terminated for performance and organizational concerns at the fund's Aug. 1 board meeting. Edward J. Calkins, CIO and managing director of Great Lakes Advisors, said: "We've had a successful relationship with Illinois Teachers over the past three years and wish them well in their new investment strategy." The board also terminated Holland Capital, which managed $315 million in active domestic large-cap growth equities, because of performance and organizational concerns. Susan Chamberlain, Holland Capital's COO, said: "We regret Illinois Teachers' decision and are sorry to lose the plan as a client." Until it is reassigned to other managers, the money from the terminated firms will be moved into a $900 million S&P 500 index account managed by RhumbLine Advisors, Ms. Goltermann said. Specific criteria and an RFP will be available Aug. 25 in the vendor information section at trs.illinois.gov.
North Yorkshire County Council Pension Fund, Northallerton, England, is searching for a manager to run a £44 million ($81 million) global tactical asset allocation overlay on its global equities portfolio, according to Neil Sellstrom, principal accountant. Officials at the £1.1 billion pension plan want to extract additional alpha from the global equities portfolio, which totals about £850 million, Mr. Sellstrom said. The GTAA overlay strategy increases or reduces exposures to markets to add value to the underlying portfolio by using such investment tools as index futures and forward contracts. The balance of the plan's assets is invested in fixed income. The deadline for RFPs is Aug. 31. Additional information is available on the plan's website, www.northyorks.gov.uk.
Metropolitan Government of Nashville (Tenn.) & Davidson County is searching for a consultant for its $146 million 457 plan, according to Dan McDougal, special projects coordinator for the plan's purchasing division. Current consultant Segal Advisors' five-year contract is set to expire this fall. Segal can rebid. The RFP is available on the $1.7 billion system's website at ftp.nashville.gov/web/pu/bob/rfp_0678.pdf. Proposals are due by 3 p.m. CDT Sept. 4.
The Alabama Trust Fund, Montgomery, is searching for an active international equity manager. The new manager will complement the $2.6 billion fund's existing active core international equity managers, AllianceBernstein Institutional Investment and Batterymarch Financial Management, which run a combined $400 million, according to the RFP. The fund will reduce each of the existing managers' portfolios equally to fund the new portfolio, although the RFP did not specify by how much. Anthony Leigh, assistant treasurer for the state, did not return calls by press time. The RFP is available at www.treasury.alabama.gov/Content/vendors.htm. Proposals are due Sept. 30.