Plymouth County (Mass.) Retirement Association hired RhumbLine Advisers to manage $30 million in a passive domestic large-cap value equity index fund and Denver Investment Advisors to manage $25 million in active small-cap international equity, said William Farmer, executive director of the $660 million pension fund.
RhumbLine replaces RBC Global Asset Management, which ran the assets in an active strategy. Mr. Farmer said in a telephone interview the pension plan wanted to move the portfolio to a passive strategy.
Plymouth County also has about $30 million invested with RhumbLine in a passive domestic large-cap growth index.
Denver Investment Advisors replaces Allianz Global Investors, which had recently transferred the assets to its subsidiary RCM. Mr. Farmer said RCM did not meet the minimum assets under management criteria to rebid.
Investment consultant Wainwright Investment Counsel assisted.