Florida Prepaid College Board, Tallahassee, issued an invitation to negotiate in a search for an active U.S. small-cap core equity manager to manage $132 million, the ITN said.
The board intends to hire one manager to run $110 million in the $10.54 billion 529 prepaid plan and $22 million in the $397 million 529 savings plan. The board lists Fiduciary Management as the incumbent manager.
Kevin Thompson, executive director, and Michael Frick, director of operations, could not be reached for comment.
The ITN is available on the board's website. Proposals are due March 20. The board could make a decision in June.
Callan Associates, the board's investment consultant, is assisting in the search.