Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, is looking to allocate up to $20 million to an emerging markets equities manager through either a commingled or mutual fund.
This is a reissue of an RFP originally sent in September after the retirement system's previous emerging markets manager, LMCG Investments, terminated its LMCG Emerging Markets Collective Fund.
In December, the system selected Axiom to manage $20 million, but the board is seeking another manager or managers to reach its 7% target allocation of to emerging markets equities, said Carolyn Russo, executive director of the retirement system.
NEPC, investment consultant for the $671 million defined benefit fund, is assisting with the search.
Separate accounts, hedge funds and emerging market small-cap and frontier market funds will not be considered.
The RFP is available on NEPC's website. Proposals are due 2 p.m. EDT June 25. Ms. Russo expects a final selection to be made in September.