Watertown (Mass). Contributory Retirement System is looking to allocate $40 million to $50 million to an active international core equities strategy.
Fiducient Advisors, investment consultant to the $250 million defined benefit plan, is assisting with the search.
Proposed strategy should have a large-cap bias. The board may select more than one manager.
The system's current international equities managers (discounting a $7 million international small-cap mandate run by Acadian Asset Management) are EARNEST Partners and MFS Investment Management, according to documents on its website. Details about whether EARNEST's and MFS's portfolios are up for bid or whether the fund is seeking additional international core managers wasn't immediately available.
The RFP is on Fiducient's website. Proposals are due 4 p.m. EDT May 4. A selection date was not disclosed.
Barbara A. Sheehan, pension fund director, and Richard Carey, research analyst for Fiducient, could not be immediately reached for additional information.
