Cambridge Retirement taps RhumbLine for passive large-cap value equity

Cambridge (Mass.) Contributory Retirement System hired RhumbLine Advisers to run about $80 million in a passive large-cap value equity allocation for the $1.1 billion pension fund.

RhumbLine replaced MFS Investment Management, which was dropped because of underperformance, according to board meeting minutes. MFS spokesman James Aber declined to comment.

The RFP was issued in March. Investment consultant Segal Rogerscasey assisted.