Quincy (Mass.) Contributory Retirement System is searching for a passive manager to run a total of $130 million in equity and fixed-income portfolios and an active emerging markets equity manager to run about $8 million.
The $799 million pension fund issued two RFPs due to the requirements of the Massachusetts Public Employee Retirement Administration Commission to put services up for bid every seven years, said Brad Croall, board director.
Current passive manager RhumbLine Advisers and current emerging markets small-cap manager Acadian Asset Management are invited to rebid, Mr. Croall said.
The passive manager will run $30 million in international developed markets equities; $25 million in style-tilted domestic equities; $20 each in core fixed income, domestic large-cap growth equities and domestic large-cap value equities, and $15 million in U.S. inflation-protected bonds.
As of June 30, the actual allocations to domestic equities, international developed markets equities, investment-grade bonds and emerging markets equities was 21.1%, 11.4%, 9.8% and 7.7%, respectively; their respective targets are 24%, 13%, 5% and 12%.
The passive RFP and the emerging markets RFP are available on the website of investment consultant Meketa Investment Group, which is assisting with both searches. Proposals for both searches are due at noon EST on Dec. 16. A timeline for a selection has yet to be determined.
