Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, is searching for an active international equity manager to run about $85 million, confirmed Travis Monroe, director of budget and finance for Scott Meacham, Oklahoma state treasurer.
Martin Currie Investment Management is the $650 million fund’s sole manager for international equities. Mr. Monroe said the investment was put out for bid because of performance issues with Martin Currie, but the firm can rebid.
“We may or may not replace the existing manager,” he said.
The RFP specifies active management, but not a cap size or style, Mr. Monroe said. The portfolio will be benchmarked to the MSCI ACWI ex-US index.
The RFP is available on fund consultant NEPC’s website at www.nepc.com/investment_managers/advertised_searches.
Proposals are due by 4:30 p.m. CDT May 13.
Martin Currie spokesman Andy Sowerby could not be reached for comment.