New Mexico Educational Retirement Board, Santa Fe, launched an RFI for at least one active domestic value equity manager to run $90 million in small caps or smidcaps, Bob Jacksha, chief investment officer of the $8.5 billion fund, confirmed in an e-mail response to questions.
The board wants the portfolio’s annualized net return to exceed the Russell 2000 Value index and/or Russell 2500 Value index.
The board launched the RFI because the contract of Rothschild Asset Management, which currently manages a $175 million small cap value portfolio, is set to expire June 30, Mr. Jacksha stated. Rothschild can rebid.
The remainder of the portfolio’s assets will be distributed to other managers under the fund’s allocation.
The RFI is available at www.nmerb.org. Responses are due at 3 p.m. MDT April 30. The board expects to select a manager at its June 4 meeting.