Andover (Mass.) Contributory Retirement System is searching for a midcap core equity manager to run about $13 million and a small-cap core manager to run about $10 million. The searches are open to both active and passive managers.
This search is being conducted as part of a reallocation of assets, said Elena M. Kothman, executive director of the $128 million pension fund, in an email. Previously, the entire pension fund was managed by the $67 billion Massachusetts Pension Reserves Investment Management Board; now Andover Contributory will be using external managers for part of the portfolio.
"There are no 'incumbent' managers, unless you consider the PRIT fund as such," Ms. Kothman said.
Dahab Associates, investment consultant to the pension fund, is assisting with the searches.
The RFPs are available on Dahab's website. Proposals for both searches are due at 5 p.m. EST Nov. 14. Selection dates have yet to be determined.
