Ohio State Highway Patrol Retirement System, Columbus, hired Callan Associates as an investment consultant, effective July 1. Earlier this year, the board for the $650 million fund voted to not renew the contract of incumbent DeMarche Associates. Richard Curtis, executive director, said he expects Callan to update an asset allocation study that was completed about 18 months ago.
Separately, at its May meeting the board interviewed State Street Research, Morgan Stanley Dean Witter and Kennedy Capital Management in its search for a small-cap to midcap active value equity manager to handle $40 million to $50 million. Mr. Curtis will review a list of additional managers to decide which other firms trustees may want to interview.
Mr. Curtis also said he was in contract negotiations with a small-cap to midcap active growth manager, which he declined to identify, to run $40 million to $50 million. He said he expects negotiations to be done in the next few weeks.