State of Illinois Employees Deferred Compensation Plan, Chicago, plans to issue an RFP for an active domestic large-cap core equity manager, said William R. Atwood, executive director of the $11.2 billion Illinois State Board of Investment, fiduciary to the $3 billion participant-directed plan.
The board today placed Legg Mason Value Trust, which manages $125 million in active domestic large-cap value equities, on watch for performance. Legg Mason can rebid, Mr. Atwood said.
The board wants to see if theres a better alternative to Legg Mason, he said. The fund is an investment option in the deferred compensation plan.
Mary Athridge, Legg Mason spokeswoman, couldnt be reached for comment.
The RFP is being developed and could be issued later this month or in October. It will be available from Iron Capital Advisors, the plans consultant.