Colorado's Public School Investment Board, Denver, rehired Parametric Portfolio Associates as passive equity manager to run about $342 million for the state's $1.2 billion Public School Permanent Fund.
The board approved retaining Parametric at its Oct. 12 meeting, said Sheena Kadi, spokeswoman for the Colorado Department of the Treasury, in an email.
The board had issued an RFP in August due to the pending expiration of Parametric's contract, Ms. Kadi said at the time.
State Street Global Advisors was the other finalist.
"Parametric utilizes BlackRock's iShares ETFs as our current investment vehicle for the equity portion of the portfolio as it aligns with the requirements for equity investments as set forth in the Investment Policy Statement," Ms. Kadi said in an Aug. 1 email.
According to the permanent fund's most recent investment report, the permanent fund was invested in four iShares exchange-traded funds managed by BlackRock as of Sept 30.
As of that date, the permanent fund was invested in the iShares S&P 1500 ETF ($206 million), iShares Core MSCI EAFE ETF ($83 million), iShares MSCI Emerging ETF ($39 million) and iShares MSCI Canada ETF ($14 million), according to the investment report.
The Public School Permanent Fund is an endowment funded by the state's School Land Trust.
Investment consultant Callan assisted.
