Indiana State Teachers Retirement Fund, Indianapolis, is searching for at least two 130/30-type managers and one large-cap enhanced index equity manager to run $150 million to $200 million each, said Robert D. Newland, CIO of the $9 billion fund. The number of managers hired will depend on the quality of the responses, he said. The index benchmarking the enhanced strategy will be determined by the funds board based on the responses. Funding will come from the $2.6 billion domestic equity allocation of the $5 billion employer-directed part of the fund, Mr. Newland said. The board hasnt determined which equity classes and managers will be affected, he added, noting that some managers could be terminated. Callan Associates is assisting. The RFP is available on the funds website at www.in.gov/trf. Proposals are due July 20, and selections are expected Aug. 28.
Indiana Teachers eyes 130/30, enhanced index