St. Louis Employees’ Retirement System is searching for a domestic large-cap core enhanced index equity manager to run $20 million, said an RFP posted on the $750 million pension fund’s website.
The pension fund is looking for a manager to run an enhanced portfolio benchmarked to the S&P 500. A reason for the search and information on a current manager was not provided.
This is the third large-cap search in 2016 for the pension fund, which originally issued an RFP in May for an active manager to run $30 million due to performance concerns with current manager CastleArk Management. In September, the pension fund issued an RFP for a passive manager to run half of that portfolio, with the active manager instead managing $15 million.
Finalists for the active search are ClariVest Asset Management, Fred Alger Management, Jensen Investment Management and Mar Vista Investment Partners. They made presentations to the board of trustees at a special meeting on Nov. 7 and the board is expected to make a decision at its regular Nov. 28 meeting. Progress on the passive search could not be immediately learned.
Proposals for the enhanced search are due at 4 p.m. CST on Dec. 12. A timeline for a decision was not made available.
The RFP is available on the pension fund’s website.
Investment consultant Summit Strategies Group is assisting.
Rich Olliges, the pension fund’s accounting officer, was not available by press time.