Wyoming State Treasurer Joseph B. Meyers office issued an RFP for a global custodian for its treasury assets, confirmed Sharon Garland, deputy state treasurer. The current custodian for the states $10.2 billion in assets is JPMorgan Worldwide Securities Services, which is invited to rebid. Ms. Garland said the search is being conducted because there hasnt been one in quite some time and JPMorgans contract is set to expire June 30. The RFP is available on the offices website at: http://treasurer.state.wy.us/rfp.asp. Proposals are due by 2 p.m. MDT April 14, with a selection expected June 6.
Arvada, Colo., plans to issue an RFP March 31 for bundled service providers for the citys six defined contribution plans with a combined $139 million in assets, said Jo Mattoon, director of human resources for the city. Fidelity Institutional Retirement Services is the incumbent for the city employees and police 401(a) plans, and ICMA-RC is the incumbent for a 457 plan and three other 401(a) plans covering executives. Both firms can rebid. Were just doing our good due diligence in issuing the RFP, Ms. Mattoon said. Its been decades since some of these have gone out (to bid). The RFP will be available at www.arvada.org. Responses will be due by 5 p.m. MDT April 21. Information about a selection date was not available by press time.
City of Rochester, N.Y., issued an RFP for an auditor for its $120 million 457 plan, according to the plans website. The RFP is available at www.ci.rochester.ny.us/Main/docs/rfp_rfq/DEF_COMP_AUDIT_RFP.pdf. Proposals are due April 2, and a decision is expected by July 1. The plan has 44 investment options. Brian Roulin, chairman of the deferred compensation committee, did not return calls seeking additional information.
Colorado Public Employees Retirement Association, Denver, will conduct a search later this year for at least one global equity manager as part of a shift toward a single global equity allocation, said spokeswoman Katie Kaufmanis. Consultant Ennis Knupp will assist staff in the search; no RFP is expected. The global equity allocation, to be implemented Jan. 1, 2009, will have a custom benchmark: 74% of the DJ Wilshire 5000 index and 26% of the MSCI ACWI ex-U.S. index. The shift will not change the $39 billion plans overall equity exposure; global equity will constitute 58% of total assets. Domestic and international equity constituted 41.5% and 15.3% of total assets as of Feb. 29. The new manager or managers will receive up to $4.5 billion, or 20% of the global equity allocation. Funding is anticipated to come from other equity managers, but no details are available, Ms. Kaufmanis said. PERAs current external international and domestic equity managers are AllianceBernstein, Turner, Baillie Gifford, BGI, Baring, Mondrian and Schroder. No terminations are planned, Ms. Kaufmanis said.
San Diego County Employees Retirement Association will commit the $8.7 billion associations new 5% infrastructure allocation to six to 10 managers over three to five years under guidelines approved by the systems investment board, according to Johanna Shick, communications manager. The investment vehicles can include primary partnerships, fund of funds, co-investments, secondary funds and direct investments. The portfolio will be benchmarked to the CPI plus 500 basis points. The portfolio will have 40% to 70% in North American investments, 20% to 40% to OECD countries, and 10% to 30% in non-OECD countries. General consultant Ennis Knupp assisted. No other information about when managers will be sought or chosen was available at press time.