Illinois State Universities Retirement System, Champaign, authorized a search for a proxy-voting advisory firm, said Daniel L. Allen, chief investment officer of the $12.6 billion system.
SURS expects to issue an RFP in July and make a decision in September, Mr. Allen said. Marco Consulting Group, the incumbent, can rebid.
The RFP will request bids for domestic and international proxy-voting advisory services, Mr. Allen said.
Marco handles only domestic proxy voting; SURS leaves it up to its international managers to vote their proxies.
SURS hasn’t decided whether to hire a single firm or a firm for each service, or whether it will continue to have an external advisory firm for only its domestic equities and leave non-U.S. proxy voting to its international managers, Mr. Allen said.
Marco’s contract, which expired Dec. 31, was extended to Sept. 30.