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Pension Funds

New Orleans names 5 finalists for GTAA search

New Orleans City Employees' Retirement System named five finalists in its search for a global tactical asset allocation manager, said Jesse Evans Jr., director, in an email.

The $378 million pension fund issued an RFP in April for its first GTAA manager to run an amount yet to be determined, although Mr. Evans said around $20 million has been discussed. The finalists are BlackRock (BLK), Grantham, Mayo, Van Otterloo & Co., J.P. Morgan Asset Management (JPM), Morgan Stanley (MS) Investment Management and Pacific Investment Management Co. Finalist interviews are scheduled for Sept. 10, with a decision expected shortly thereafter.

The pension fund's target allocation is 44% domestic equities; 20% core-plus fixed income; 14% international equities; 5% each hedge funds, international fixed income, private equity and real estate; and 2% cash reserves.

Investment consultant AndCo Consulting is assisting.