Norwood (Mass.) Contributory Retirement System is searching for a passive money manager to run a total of about $50 million in four portfolios and an active emerging markets equity manager to run about $9 million.
The $205 million pension fund has issued two RFPs to comply with the Massachusetts Public Employee Retirement Administration Commission requirement to put services up for bid every seven years, said Debra A. Wilkes, the pension fund’s executive director.
RhumbLine Advisers, the current passive manager, and Dimensional Fund Advisors, the current emerging markets equity manager, are invited to rebid, Ms. Wilkes said.
The passive portfolios up for bid are $21 million in domestic large-cap growth equity, $15 million in domestic core fixed income, $7 million in Treasury inflation-protected securities and $7 million in natural resources.
The passive RFP and emerging markets equity RFP are both posted on the website of Meketa Investment Group, the pension fund’s investment consultant, which is assisting in the search.
Proposals for both are due at 3 p.m. EST on Jan. 7. Timelines for selections have yet to be determined.
Source: https://www.pionline.com/searches-and-hires/norwood-contributory-hunt-active-passive-managers
