Webster (Mass.) Retirement System issued an RFP for at least one manager to run a total of $1.8 million in core or value-added real estate. The manager is being added for diversification, and the source of funding is undetermined. The system has less than $1 million in real estate, said Gerry Wentworth, board administrator of the $18 million fund. Wainwright Investment Counsel is assisting. The RFP is available on Wainwrights website at www.winvcounsel.com. Proposals are due at 4 p.m. EDT Aug. 29.
London Borough of Tower Hamlets Pension Fund issued an RFI for at least one active currency manager to run a notional portfolio of £100 million ($203 million) to £500 million, said Jim Ricketts, group accountant for the £703 million fund. Pension fund officials have not decided on an exact amount for the strategy and will seek advice from successful candidates. The funds overseas equity exposure is about 35% of assets. Proposals are due Sept. 7. Additional information can be obtained from consultant Hymans Robertson.
Los Angeles County Employees Retirement Association, Pasadena, Calif., issued an RFP for one or two firms to manage a new allocation of up to $120 million to international real estate securities, said John D. McClelland, principal investment officer, real estate, for the $40.1 billion fund. Funding will come from the associations $11.1 billion fixed-income portfolio; fund officials have not decided which managers allocations will be trimmed. The RFP is available on the funds website at www.lacera.com. Proposals are due Sept. 10.
New Mexico Educational Retirement Board, Santa Fe, issued an RFP for a manager to run $500 million in active domestic large-cap value equities, said Frank Foy, deputy CIO of the $9.1 billion fund. The contract of incumbent Institutional Capital Management expires Feb. 1; it may rebid. The RFP is on the boards website at www.nmerb.org, and proposals are due Sept. 14.
Oklahoma Public Employees Retirement System, Oklahoma City, issued an RFP for an active domestic large-cap growth equity manager to run $200 million, confirmed Tom Spencer, executive director of the $6.5 billion fund. Funding comes from the termination of TCW Asset Management, which managed a similar portfolio; the money is now in a Russell 1000 Growth fund run by BGI. The RFP is available on OPERS website, www.opers.state.ok.us/news/view_article.asp?article=100. Proposals are due by 5 p.m. CDT Sept. 14.
Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, plans to issue an RFP early next month for two active domestic core fixed-income managers to run $65 million each, confirmed James Wilbanks, director of revenue and fiscal policy for state Treasurer Scott Meacham. The $380 million trust, which invests Oklahomas share of the national tobacco settlement, has two fixed-income managers, Reams Asset Management and Axia Investments, each of which runs $65 million. Both firms, whose contracts expire at years end, will be invited to rebid. The RFP will be posted on consultant New England Pension Consultants website at http://nepc.com.
Massachusetts Pension Reserves Investment Mangement board, Boston, approved plans to issue an RFP on Aug. 20 for an international REIT manager to run up to $200 million. Staff at the $50 billion Boston-based system could make a recommendation on which firm to hire at the boards Dec. 4 meeting. No additional details were provided.
(Tenn.) City Employees Pension Fund board will conduct an asset allocation study in November or December, said Michael Cherry, executive director of the $550 million fund. Consultant Summit Strategies will assist.
Idaho Endowment Investment Board, Boise, will conduct an asset allocation and spending policy study over the next nine months, said Larry Johnson, manager of investments for the $1.1 billion fund. Officials of the board, which invests the proceeds generated by state endowment lands for use in education, want to consider diversifying the funds 70% equity/30% fixed-income allocation. Callan Associates will assist.