Plymouth (Mass.) Contributory Retirement System is searching for one or more domestic large-cap core equity managers to run a total of $15 million to $20 million, said Debra J. Sullivan, retirement director.
The $139 million pension fund issued an RFP due to the state's legal requirement that services are put up for bid every five years. Boston Advisors, the current manager, is invited to rebid. While the portfolio is currently actively managed, the pension fund is considering both active and passive managers.
Ms. Sullivan said this search is the first of four searches the pension fund is conducting in the coming months. Searches for international large-cap equity managers and domestic core fixed-income managers are also a result of the five-year bidding requirement; there will also be a search for international small-cap equity managers, a new allocation. She could not provide specific details about the future searches.
Investment consultant Fiduciary Investment Advisors is assisting with all searches.
The RFP is available on FIA's website. Proposals are due at 3 p.m. EDT on May 27. Ms. Sullivan did not have further information on a timetable for a hiring decision.
