Plymouth (Mass.) County Retirement System issued RFPs for two domestic midcap equity managers, a value firm to handle $55 million and a growth firm to run $40 million, confirmed Tom O'Brien, chairman of the board and treasurer. Officials of the $580 million pension plan will consider both active and passive strategies, according to the RFPs.
Jeff Fabrizio, consultant with Wainwright Investment Counsel, the plan's consultant, said Putnam Investments currently manages the growth portfolio, while Boston Co. Asset Management runs the value mandate. The RFPs were issued because of poor performance, he added, but both firms are invited to rebid. Sinead Martin, spokesman for Putnam, said the firm values its "long-standing relationship with Plymouth and looks forward to continuing" that relationship in the future. Joe Ailinger, spokesman for Boston Co., said the firm "considers Plymouth County a valued client and we look forward to rebidding on this mandate."
The RFPs are available on consultant Wainwright's website at www.winvcounsel.com/rfp.html. Proposals are due at 2 p.m. EST Nov. 1, and selections are expected by January.