New York City Retirement Systems is looking for managers to run active EAFE equity for one or more of the city's five pension funds and is using a pilot search process to conduct the search, according to the website of John Liu, city comptroller.
The pilot program uses consultant databases to identify the potential managerial candidates rather than limiting the review to managers that respond to a formal RFP, the website said.
Michael Loughran, a spokesman for Mr. Liu, said in an e-mail that “there is no set number on how many managers will be hired.” The last search for managers of active EAFE portfolios was in 2005, he wrote. Mr. Loughran described the search as part of a periodic review process.
There are 13 managers of active EAFE portfolios, and each is eligible to apply, Mr. Loughran wrote. The managers are: Baillie Gifford, BlackRock, Capital Guardian, F&C, Generation, GE, Governance for Owners, Mondrian, Philadelphia, Pyramis, Sprucegrove, Thornburg and Walter Scott.
The application requirements vary depending on the different consultants — Callan Associates, Rocaton Investment Advisors, Strategic Investment, NEPC and Buck Consultants — assisting the $118.5 billion pension system in selecting managers. Applicant information must be submitted to the consultants by April 26.
Evaluations, interviews and selections will take place from June through September. Contracts will be issued between October and December.
Program information is on the comptroller's website. Additional information may be obtained by writing Evelyn Dresler, City of New York Office of the Comptroller, The Municipal Building, 1 Centre St., Room 650, New York, NY 10007-2341.
Mr. Liu is the investment adviser, trustee and custodian of the city pension system, which is composed of the New York City Employees' Retirement System, the Teachers' Retirement System of the City of New York, the New York City Police Pension Fund, the New York City Fire Department Pension Fund, and the New York City Board of Education Retirement System.