Massachusetts Housing Finance Agency Employees' Retirement System, Boston, is searching for an emerging market debt manager to run approximately $5 million and passive index managers to run approximately $55 million to $60 million.
Emerging market debt managers must have been in operation for at least three years and have at least $1 billion in total assets under management. Preference will be given to managers that can provide a blended strategy of local and hard currency exposure.
For the passive index manager search, the board is looking to allocate about $15 million to a large-cap U.S. equity fund benchmarked to the Russell 1000 Growth index; $15 million to a fund benchmarked to the Russell 1000 value index; $10 million to international equity benchmarked to the MSCI EAFE index; $4 million to international equity benchmarked to the MSCI EAFE Small-Cap index; $7 million to inflation-linked fixed income benchmarked to the Barclays U.S. TIPS index; $4 million to natural resources funds benchmarked to the S&P Global Natural Resources index or similar index; and $3 million to a small-cap U.S. equity fund benchmarked to the Russell 2000 index.
Respondents must have been in operation for at least three years and have at least $500 million in total AUM.
Meketa Investment Group, investment consultant to the $115 million defined benefit plan, is assisting with the searches.
The RFPs are available on Meketa's website.
Proposals for both searches are due by 3 p.m. EDT on May 18. Selection dates were not disclosed.
No further information could be learned by press time. Joseph Petty, executive secretary of the pension fund, and Steve MacLellan, investment analyst at Meketa, could not be reached.