Stoneham (Mass.) Contributory Retirement System hired Russell Investments as discretionary manager of managers overseeing up to $75 million in assets, said Karen DeAngelis, retirement board director, in an email.
The $123 million pension fund issued an RFP in May due to the pending expiration of the contract of current manager SEI Investments. The firm rebid for the services and was the other finalist, Ms. DeAngelis said.
The pension fund currently has $64 million overseen by SEI; the remainder is in the Massachusetts Pension Reserves Investment Trust, which is overseen by the $101.5 billion Massachusetts Pension Reserves Investment Management Board, Boston.
Investment consultant Fiducient Advisors assisted.
