Ohio Police & Fire Pension Fund, Columbus, will launch a search next week for an active domestic small-cap core equity manager to run $225 million, spokesman David Graham said in an e-mail.
The $13.7 billion pension fund will issue an RFP on Sept. 4 for a manager following the June termination of Columbia Threadneedle Investments, which ran $442 million in a similar portfolio.
Funding will come from those assets; also in June, the pension fund restructured its domestic equity portfolio. The overall long-term target to domestic equity is 16%, and of that amount the new structure will be 50% to portable alpha strategies, 40% passive large-cap strategies, 7.5% to active small cap and 2.5% to synthetic small cap. As of June 30, the actual allocation to domestic equity was 23.8%.
How the remainder of Columbia Threadneedle’s assets will be specifically distributed has yet to be determined. Columbia Threadneedle spokesman Carlos Melville declined comment.
The RFP will be posted on the pension fund’s website. Proposals will be due Oct. 9; a timetable for a decision has yet to be determined.
General investment consultant Wilshire Associates is assisting.