The Montana Board of Investments, Helena, plans to issue an RFP in September for an active domestic midcap or small-cap equity manager, said Carroll South, executive director. Officials of the $7.2 billion fund have not decided the size of the portfolio or whether it will focus on growth or value, Mr. South said.
The new allocation would increase diversification by adding active management to the fund's existing domestic small-cap to midcap investments, a $185 million S&P 400 index account run by Barclays Global Investors and a $206 million Russell 2000 index account managed by Dimensional Fund Advisors. Funding would likely come from the fund's $2.7 billion large-cap portfolio or from reducing the BGI midcap account, Mr. South said.
R.V. Kuhns is assisting.
