Westfield (Mass.) Contributory Retirement System is searching for one or more passive managers to run a total of $25 million, said an RFP provided by Raymond Depelteau, chief investment officer, in an e-mail.
The $200 million pension fund is searching for passive managers that can run funds tracking one or more of the following indexes: S&P 500 or Russell 1000; S&P 400 or Russell Midcap; Russell 2000; MSCI EAFE; MSCI emerging markets; a U.S. high-yield bond index; and a U.S. Treasury inflation-protected securities index.
Only pooled/comingled funds will be considered. Separate accounts will not be considered.
The search is being conducted due to a policy that services must go out to bid after seven years. Incumbent passive manager State Street Global Advisors is invited to rebid.
The pension fund has equity and fixed-income targets of 62% and 13%, respectively.
The RFP is available from Lynn Rea, retirement administrator, via e-mail at [email protected]. Proposals are due by 4 p.m. EDT on July 29. A timeline for a hiring decision has not been set.
