Indiana State Teachers Retirement Fund, Indianapolis, wants to hire at least two 130/30-type managers and one large-cap enhanced index equity manager. CIO Robert D. Newland said the number of managers hired will depend on the quality of the responses; $150 million to $200 million will go to each firm. The index benchmarking the enhanced strategy will be determined by the board of the $9 billion fund based on responses to its RFP.
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.