Massachusetts Water Resource Authority Retirement System, Chelsea, Mass., rehired RhumbLine Advisers to manage about $60 million in passive domestic large-cap equities.
The $625 million pension fund's board approved the hiring at its Oct. 27 meeting, said Carolyn Russo, executive director, in an email.
The pension fund had issued an RFP in September due to the requirement of the Massachusetts Public Employee Retirement Administration Commission to put services up for bid every seven years, Ms. Russo said at the time.
There were five bidders and no finalist presentations, according to the minutes. Investment consultant NEPC recommended rehiring RhumbLine "given their track record and advantageous fee structure," the minutes said.
As of Oct. 31, the pension fund's actual allocation to domestic equities was 30.5%; the target is 31%.
NEPC assisted with the search.
