North Attleboro (Mass.) Contributory Retirement System is searching for active domestic large-cap growth and large-cap value, emerging markets equity and real estate managers, confirmed Steven Roth, director of manager research at investment consultant Dahab Associates.
The large-cap managers will run $7.5 million each, and the emerging markets equity and real estate managers, $3.5 million to $4 million each.
The emerging markets proposals can be for active or passive strategies, Mr. Roth said in a telephone interview. The real estate RFP is for open-end core or core-plus funds. These will be the $75 million pension plan's first emerging markets equity and real estate allocations, Mr. Roth said. Funding will come from rebalancing.
Navellier & Associates and Herndon Capital Management currently manage the plan's large-cap growth and value allocations, respectively, and are invited to rebid. Those searches are the result of the Massachusetts Public Employee Retirement Administration Commission's regulations that portfolios be put out to bid at least once every five years.
The RFPs are available on the website of Dahab Associates, the plan's investment consultant. The large-cap proposals are due at 2 p.m. EDT April 22; emerging markets equity, 2 p.m. EDT April 23; and real estate, 2 p.m. EDT April 24. Hiring decisions are expected to be completed before September, Mr. Roth said.