Searches and Hires

Attleboro Contributory looking for international equity manager

Attleboro (Mass.) Contributory Retirement System is searching for an international equity manager to run $18 million in a strategy benchmarked to the MSCI ACWI ex-U.S. index.

Both active and passive managers will be considered. The pension fund has issued an RFP for each but will be hiring only one manager for the allocation. Proposed investment vehicles should be commingled or mutual funds, unless the portfolio is an exchange-traded fund or an index fund tracking American depository receipts only.

State Street Global Advisors is currently running the allocation in a passively managed strategy, and the pension fund is conducting the search to comply with state regulations, said Leslie J. Ring, executive director of the $150 million defined benefit plan, in an email.

"Since we have to do the search, the board decided to put out both a passive and active search just to see what is out there," Ms. Ring added. SSGA is welcome to rebid.

Dahab Associates, the pension fund's investment consultant, is assisting with the search.

The RFPs are available on Dahab's website. Proposals are due by noon EST Dec. 19. A selection is expected to be made by February.