New York State Deferred Compensation Plan, Albany, is searching for active and passive domestic equity managers, said David E. Fischer, executive director, in an e-mail.
The $18.6 billion 457 plan is issuing two RFPs, one each for active and passive managers, because the contracts for the current managers are expiring on March 31, 2017, Mr. Fischer said. All are invited to rebid.
The active RFP is seeking large-cap growth and value managers; smidcap growth, core and value; and small-cap growth, core and value managers. A specific number of managers was not specified.
The current active managers are Davis Advisors, Fidelity Investments, Hartford Funds, Principal Global Investors, T. Rowe Price Group (all large cap), Vanguard Group (large cap and midcap), Columbia Threadneedle Investments, Federated Investors and Wells Fargo Asset Management (all small cap), totaling $5.8 billion in assets managed for the plan.
The passive RFP is seeking large-cap core and smidcap core managers. A specific number of managers was not specified.
Vanguard Group is the plan's sole passive equity manager, offering large-cap, midcap and small-cap funds, totaling $2 billion in assets.
Proposals for both RFPs will be due on June 10. Finalist interviews are tentatively scheduled for August, with a decision expected in late September or early October.
Investment consultant Callan Associates is assisting with the searches.
The RFP is available on Callan's website.