Ohio State Teachers Retirement System, Columbus, issued an RFP for an investment consultant, confirmed Laura Ecklar, spokeswoman for the $52.5 billion system. The contract of current investment consultant Russell Investments expires Dec. 31; Russell informed the board in September it will not seek a new contract, according to the systems website. The RFP is available on the systems website at http://www.strsoh.org. Proposals are due April 15; a selection is expected in October.
Ohio Teachers in the marketfor new consultant
Ohio Bureau of Workers Compensation, Columbus, issued an RFP for an actuarial consultant, confirmed Maria Smith, chief communications officer at the $16.5 billion plan. The contract of incumbent Oliver Wyman Actuarial Consulting expires Dec. 31; the firm can rebid, Ms. Smith said. The RFP is available at http://www.ohiobwc.com/bwccommon/services/RFP/RFPDetails.asp. Proposals are due at 2 p.m. EDT April 16. Selection is expected by the board on June 19.
Washington State Investment Board, Olympia, issued an RFQ for an auditor for its financial statements. Letters of intent were due March 31, with responses due April 17, according to the RFQ. The five-year contract is scheduled to begin around May 10. To reduce the possibility of potential conflicts, the board will not hire firms or subsidiaries that already provide investment management and investment consulting services. Copies of the RFQ are on the boards website at http://www.sib.wa.gov.
Powys County Council Pension Fund, Llandrindod Wells, Wales, issued an RFI for a manager to run a £30 million ($43 million) active long-only global equity strategy, according to Carl Leah, principal accountant for the £270 million fund. Funding will come from a similar portfolio previously managed by AllianceBernstein, which was terminated because of performance, Mr. Leah said. John Meyers, spokesman for AllianceBernstein, could not be reached by deadline for comment. Proposals are due April 23. Further information can be obtained at http://www.etenderwales.bravosolution.co.uk. Hewitt Associates is advising.
Newport News (Va.) Retirement System is testing the waters for an active core fixed-income manager that could run $75 million, according to David Lee, principal at plan consultant Dahab Associates. The $590 million system issued an RFP to see what candidates apply, Mr. Lee said, adding that a manager might not be hired. The RFP can be found at http://www.dahab.com/searches.html. Proposals are due at 5 p.m. EDT April 23, and can be sent to David Lee, director of manager research, Dahab Associates Inc., 423 S. Country Road, Bay Shore, NY 11706. Questions can be directed to Mr. Lee at 631-665-6181 or [email protected] LaVerne Lovett, the citys director of finance and retirement board secretary, could not be reached for comment by press time.
Chicago Policemens Annuity & Benefit Fund is searching for a core-plus fixed-income manager following a review of the asset class at the $2.5 billion plans March 20 investment committee meeting. CIO Sam Kunz said the size of the portfolio will be determined once the manager is selected at the boards April 23 investment committee meeting and will depend on the managers risk profile and investment style. Reallocation is likely in the fixed-income portfolio, possibly including manager terminations, Mr. Kunz said; he declined to provide details. The funds consultant, Ennis Knupp, will conduct the search. Interested firms may contact Ennis Knupp. Also at the April 23 meeting, trustees will start discussing a planned search for a global tactical asset allocation manager, Mr. Kunz said. The search is part of the funds new opportunistic strategies program, to invest 2% of assets each in GTAA, currency and commodities. Searches for currency and commodities managers will start later in the year.
Texas Teacher Retirement System, Austin, is searching for an actuarial services firm for the $81 billion system. The selected actuarys contract would expire Aug. 31, 2012. The systems current actuary, Gabriel Roeder Smith, can rebid, Howard Goldman, the plans communications director, wrote in an e-mail response to questions. The RFP is posted on Electronic State Business Daily, the states procurement website, at http://esbd.cpa.state.tx.us/bid_show.cfm?bidid=81611. Proposals are due at 3 p.m. CDT April 24; a selection is expected at the systems June 11-12 board meeting.