North Attleboro (Mass.) Contributory Retirement System is searching for a domestic large-cap value equity manager to run $9 million, said William Dahab, principal and director of research at Dahab Associates, investment consultant to the pension fund.
The search is being conducted to potentially replace Herndon Capital Management, which runs about $9 million in a similar strategy. Mr. Dahab cited performance issues and significant management turnover as reasons for Herndon's potential replacement. A Herndon spokeswoman could not immediately be reached for comment.
The RFP is available on Dahab's website. Proposals are due by noon EDT on Sept. 13. There is no timeline for a hiring decision.
The $97 million pension fund has a 30% domestic large-cap equity target.