Pennsylvania Municipal Retirement System, Harrisburg, on Wednesday issued an RFP for an active international growth equity manager to run $65 million.
WHV Investment Management currently manages the money in a similar-style portfolio, said Nat Raney, investment relationship manager at the $1.95 billion pension fund. The pension fund's board was “uncomfortable with the manager's investment approach,” Mr. Raney said. He would not elaborate. WHV may rebid.
The pension fund has a 14.6% target allocation to international developed markets equities, according to its website. HGK Asset Management and Johnston Asset Management are its other international equity managers.
The RFP is on the website of Dahab Associates, the pension fund's investment consultant.
Proposals are due at 5 p.m. EDT April 28. A selection could be made as early as the pension fund's next board meeting on May 15, Mr. Raney said.
