Kansas Public Employees Deferred Compensation Plan, Topeka, issued an RFP for auditing services for its $643 million 457 plan, according to its website. Chris Howe, director, did not return calls seeking comment. The RFP is available at www.da.ks.gov/purch/rfq/rfqdata/09680.doc. Proposals are due Sept. 5.
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.
Louisiana District Attorneys Retirement System, Baton Rouge, may issue an RFP after its Nov. 8 meeting for a manager to run $10 million in either venture capital or real estate, said Ed Ware, chairman of the board of the $190 million pension plan. Funding would likely come from cash or from reducing the fund's $135 million passive equity portfolio and $50 million fixed-income portfolio, said John Vann, a consultant with Rushmore Investment Advisors, which assists the plan. The passive equity allocation is composed of 10 ETFs, all run by Russell Investment Group. The fixed-income allocation comprises $25 million in a Lehman Aggregate ETF, also run by Russell, and a $25 million active domestic fixed-income portfolio run by Dorsey & Co. Some of the fixed-income money will also be moved to a Lehman 1- to 3-Year Treasury Bond ETF and a Lehman 7- to 10-Year Treasury Bond ETF, both managed by Russell; further details haven't been decided. Fund officials are making the changes to reduce volatility and enhance returns, Mr. Vann said. The fund has $1 million in venture capital and $4 million in cash.
Southern Illinois University Foundation, Carbondale, restructured its $75.5 million endowment and is considering searching for managers in five additional investment areas that would total roughly $24.2 million on the recommendation of its new consultant, Fund Evaluation Group, according to Libby Banycky, treasurer. Fund officials hope to issue RFPs this fall for venture capital, buyout, special situation, absolute return or multistrategy fund of funds managers, Ms. Banycky said. They hope to make selections by early 2007.
Los Angeles County Employees Retirement Association, Pasadena, Calif., will search next year for one or more active international managers to run up to $1.5 billion in total to increase the fund's active international equity exposure, said Lisa Mazzocco, CIO of the $34 billion system. The number of managers, portfolio size and timing of the RFP have not been determined, she said. Funding is expected to come from the system's $4.2 billion EAFE index portfolio.
Kansas City (Mo.) Police Employees Retirement System will begin an asset allocation study next month, confirmed James Pyle, retirement board pension manager. The $757 million system conducts the study every three years, Mr. Pyle said. It's too early to know if any changes will be made, he added. Consultant DeMarche Associates is assisting.
The Economic Development Generating Excellence Research Endowment, Oklahoma City, will search for a consultant and investment managers in the coming months, said James Wilbanks, director of revenue and fiscal policy for state Treasurer Scott Meacham. Mr. Meacham will be chairman of the investment board of the new fund, which was created in June. The fund will invest money to help fund research and education projects in the state. The state Legislature voted earlier this summer to give $150 million to the endowment as seed money for state and private investments that aim to boost assets to $1 billion, Mr. Wilbanks said. State officials will appoint five investment board members in November, after which the board will begin working on the searches.
Cincinnati Retirement System is examining whether to shift some of the $2.4 billion plan's active domestic equity assets to passive management. The fund now invests about $1 billion in active domestic equities. The change could improve performance, as the fund overall slightly underperformed its benchmark in the first quarter of 2006. For the first quarter, the fund returned 3.85%, while its custom benchmark returned 3.98%. The information is according to the plan's June 8 meeting minutes, which were released Aug. 11. Jack Walsh, investment officer, was not available to provide further details.