Westfield Contributory Retirement rehires SSGA as passive index manager

Westfield (Mass.) Contributory Retirement System rehired State Street Global Advisors to manage $25 million in index funds, said Raymond Depelteau, chief investment officer of the $200 million pension fund, in an email.

SSGA’s index funds track the following indexes: S&P 500; S&P 400; MSCI EAFE; MSCI Emerging Markets; a U.S. high-yield bond index; and a U.S. Treasury inflation-protected securities index.

The search was conducted in July due to a policy that services must go out to bid after seven years. RhumbLine Advisers and Comerica Asset Management were the other finalists.

The pension fund has equity and fixed-income targets of 62% and 13%, respectively.