Franklin Regional Retirement System, Greenfield, Mass., is searching for two active large-cap equity managers to each run $5 million — one in growth, one in value — and an actuarial consultant, according to RFPs released by the $88 million retirement system.
“It has been an objective of the board to move the indexed large cap to active management — so the plan is to find a value manager and a growth manager and start each with $5 million,” Dale Kowacki, executive director, wrote in an e-mailed response to questions.
He said the assets would come from an equity index fund run by RhumbLine Advisers that will be closed. “The board has enjoyed its relationship with RhumbLine, and this change is in no way a reflection of anything to the contrary,” he said.
Investment consultant Dahab Associates is assisting with the manager searches.
The equity manager RFPs are available at www.dahab.com/searches.html.
Responses to the growth RFP are due Nov. 7 and to the value equity RFP, Nov. 8, both by 5 p.m. EST. Both must be sent to Steven Roth, Director of Manager Research, Dahab Associates Inc., 423 S. Country Road, Bay Shore, NY 11706.
The RFP for the actuarial consultant is available on the Massachusetts Public Employee Retirement Administration Commission's website at www.mass.gov/perac/new.htm.
Responses to the actuarial consulting RFP are due by 12 p.m. EDT Oct. 20 and must be sent to Franklin Regional Retirement System, 278 Main St., Suite 311, Greenfield, MA 01301.