New Bedford (Mass.) Contributory Retirement System is looking to allocate to three index funds and one all-cap growth equities commingled fund.
The retirement board is considering hiring one manager to run about $65 million in a Russell 3000 index fund, $40 million in MSCI EAFE index fund, and an as-yet undetermined amount in an MSCI Emerging Markets index fund.
It is also looking to allocate about $50 million to the all-cap growth fund.
Segal Marco Advisors, investment consultant to the $408 million defined benefit plan, is assisting with the search.
The searches are being conducted to comply with state regulations, said Eric C. Cohen, executive director of the retirement system. Westfield Capital Management is the current all-cap manager and State Street Global Advisors is the plan's index manager, and both are invited to rebid.
The RFPs are available on Segal Marco's website. Proposals for both searches are due by 3 p.m. EDT Oct. 18. Selections are expected to be made end of the year, Mr. Cohen said.
