Worcester (Mass.) Retirement System will search for a manager to run an active global tactical asset allocation portfolio, said James DelSignore, chairman. Officials of the $710 million added a GTAA allocation of 3% to 5% of total assets to increase diversification. The funding source has not been determined. The RFP will be available on consultant Meketa Investment Group's website at www.meketagroup.com/mgrCenter.php. Proposals will likely be due by the end of March.
Tacoma (Wash.) Employees' Retirement System plans to search for a global custodian, confirmed Andrew Junkin, managing director at Wilshire Associates, general consultant to the $1 billion fund. The contract of current custodian Northern Trust is expiring; the firm is eligible to rebid. Tacoma pension fund officials directed all inquiries to Mr. Junkin. Fund officials have not determined when the RFP will be issued.
Arizona State Retirement System, Phoenix, could search for private equity managers this summer, according to Paul Matson, executive director of the $25.5 billion fund. The new asset class has a 5% target, but the fund is reviewing its asset allocation and the target could change.
Kansas City (Mo.) Police Employees' Retirement System will likely begin a search later this year for two managers to run up to $40 million each, one in high-yield bonds and the other in commodities, and a third to manage up to $24 million in emerging markets equities, confirmed James Pyle, board pension manager of the $800 million plan. The source of funding has not been determined.