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, Grantham, Mayo, Van Otterloo & Co., J.P. Morgan Asset Management, Morgan Stanley 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.