Investment Management Weekly articles from November 2008

Investment Management Weekly archives from November 2008

Canadian Firm Announces New Hires.(At Press Time)
November 3, 2008... Byline: Editorial Staff Sceptre Investment Counsel Limited has named Glenn Inamoto CIO and CEO. Inamoto has been with the firm since 1999, as a senior Canadian equity portfolio manager. The firm has also named David Morris chief...

StanCERA Interviews Two For Small-Cap.(News)
November 3, 2008... Byline: Marc Sorondo The Stanislaus County Employees' Retirement Association (StanCERA) heard presentations by Capital Prospects and Legato Capital Management last week during the final leg of a search for a firm to oversee its small-cap...

Vermont Plan Issues Management RFP.(News)
November 3, 2008... Byline: Marc Sorondo The Vermont Student Assistance Corporation (VSAC) has issued an RFP on behalf of the $92.1 million Vermont Higher Education Investment Plan (VHEIP) for a firm to oversee the plan's investment management, marketing,...

Odds & Ends.(Odds &Ends)
November 3, 2008... Byline: Editorial Staff * RREEF Alternative Investments has acquired a significant minority interest in long/short real estate investment advisor Rosen Real Estate Securities (RRES). As a combined entity, the firms plan to expand RRES'...

MFC Hires Head of U.S. Product Management.(Industry At A Glance)
November 3, 2008... Byline: Jakema Lewis Jeffrey Santerre has been named head of product management in the U.S. at MFC Global Investment Management. He will report to Frank Saeli, head of U.S. institutional sales and relationship management at the firm....

Arkansas TRS' Executive Director Resigns.(Industry At A Glance)
November 3, 2008... Byline: Marc Sorondo Paul Doane has reportedly resigned from his position as executive director of the $10 billion Arkansas Teacher Retirement System (ATRS) over concerns that he lost the confidence of the plan's retirement board and...

Slack to Leave Illinois SURS for Colo. 911 Plan.(Industry At A Glance)
November 3, 2008... Byline: Jakema Lewis Dan Slack has resigned from his position as executive director at the State Universities Retirement System of Illinois (SURS). Slack, who according to published reports expects to leave by year-end, has accepted...

Funds View U.S. Infrastructure as Safe Bet.(Industry At A Glance)
November 3, 2008... Byline: Joshua Hamerman The credit crunch has led investors to seek less-risky investments, and many U.S. institutional investors, such as pension funds and insurance companies are turning to infrastructure projects. Last month,...

NMERB Eyes GTAA, Equity and Timber.(News)
November 3, 2008... Byline: Jakema Lewis As originally reported on imweekly.com (10/29/08), the $7 billion New Mexico Educational Retirement Board (NMERB) is gearing up to contact managers regarding global tactical asset allocation (GTAA) strategies, said Bob...

Nevada PERS to Seek Two for Bonds.(News)
November 3, 2008... Byline: Jakema Lewis The $18 billion Nevada Public Employees Retirement System (NVPERS) will search for two fixed-income managers to oversee $800 million each, said Ken Lambert, investment officer at the fund. The board voted...

St. Paul Teachers' Up Int'l Equity Goal.(News)
November 3, 2008... Byline: Jakema Lewis The roughly $1 billion St. Paul Teachers' Retirement Fund Association will make a slight increase to its international stock portfolio at the expense of its domestic equity allocation, said Phil Kapler, executive...

Maryland Plan Seeks Fixed-Income Manager.(General News)
November 3, 2008... Byline: Marc Sorondo The Maryland-National Capital Park and Planning Commission Employees' Retirement System (MNCPPC) has issued an RFP for a U.S. core fixed-income manager to oversee $30 million at the plan. The mandate will be...

Washington State Board To Fill Consultant Pool.(General News)
November 3, 2008... Byline: Marc Sorondo The Washington State Investment Board (WSIB) has issued an RFQQ for a pool of real assets consultants to assist the firm with investments in agriculture, commodities, infrastructure, natural resource rights, timber,...

EAI Issues Real Estate Fund-of-Funds RFP.(General News)
November 3, 2008... Byline: Marc Sorondo Evaluation Associates (EAI) has issued an RFP for a real estate manager to oversee a fund-of-funds mandate, which is "focused on value-added and opportunistic real estate strategies." EAI's Web site notes that the...

Massachusetts Plan Launches Index Search.(General News)
November 3, 2008... Byline: Marc Sorondo The Dukes County Contributory Retirement System is looking to place $5 million with a large-cap value index fund manager. Kelly McCracken, administrator of the $64.2 million fund, said that the Dukes County board...

Oakland P&F Postpones Manager Fire.(News)
November 3, 2008... Byline: Jakema Lewis The City of Oakland Police and Fire Retirement System (PFRS) has recanted its decision to terminate one of its equity managers due to the ongoing Wall Street crisis, confirmed Teir Jenkins, an accountant for PFRS. ...

Plans Post Dismal Returns for 3Q08.(At Press Time)
November 10, 2008... Byline: Editorial Staff Institutional investors endured another rough one last quarter, but the returns posted by endowments and foundations told the saddest story, according to recently released data from the Wilshire Trust Universe...

Florida Plan Considers Large-Cap Add-Ons.(News)
November 10, 2008... Byline: Jakema Lewis The City of Lake Worth, Fla. is considering three firms to oversee a large-cap equity mandate for its employee and police retirement systems. Currently, Calamos Investments, Davis Hamilton Jackson & Associates...

New Managers For Empire State Teachers' Plan.(News)
November 10, 2008... Byline: Marc Sorondo The board of the New York State Teachers' Retirement System (NYSTRS) has approved new investments in private equity and real estate, said John Cardillo, spokesman for the $105 billion fund. The board ratified the...

Odds & Ends.(Odds & Ends)
November 10, 2008... Byline: Editorial Sstaff * The election is over and Barack Obama will officially serve as the 44th president of the United States. Among the many daunting tasks ahead of him, he will have to deal with the current situation in the economic...

Funds Face Commodities Limits.(Industry At A Glance)
November 10, 2008... Byline: Lynn Gresham Anxious to find regulatory levers that could lower fuel prices, Congressional Democrats are looking at curbing oil investments by speculators, including pension fund managers. There were several bills pending in...

Tulare County Shakes Off Sterling.(News)
November 10, 2008... Byline: Marc Sorondo The Tulare County Employees' Retirement Association (TCERA) has removed Sterling Capital Management from the nearly $80 million small-to-mid-cap value portfolio that it managed for the plan. David Kehler,...

Illinois Muni. Adjusts Asset Allocation.(News)
November 10, 2008... Byline: Marc Sorondo The Illinois Municipal Retirement Fund (IMRF) approved changes to its investment scheme last month, according to the highlights from a recent board meeting posted on its Web site. The fund has increased its target...

Workers' Comp Fund Seeks Managers.(News)
November 10, 2008... Byline: Marc Sorondo The Injured Workers Insurance Fund (IWIF) is searching for emerging investment managers. The IWIF covers workers compensation for the state of Maryland. Robert Merritt, executive VP and CIO at the $1.6 billion...

City of Chesapeake Seeks Consultant.(News)
November 10, 2008... Byline: Marc Sorondo The City of Chesapeake Other Post Employment Benefits Trust Fund (OPEB) is looking to hire an investment advisor to assist with the development of policy, including asset allocation strategy, performance reviews and...

Illinois Teachers' R.S. Bulks Up Watch List.(News)
November 10, 2008... Byline: Marc Sorondo The Teachers' Retirement System of the State of Illinois (TRS) added four managers to its watch list at an Oct.30 meeting, confirmed Eva Goltermann, spokeswoman for the $34 billion plan. On the domestic equity...

Iowa Public ERS Holds Cash for Rainy Day.(News)
November 10, 2008... Byline: Marc Sorondo The Iowa Public Employees' Retirement System (IPERS) is holding far more cash than normal in order to ensure that it can meet its obligations on time, said Julie Economaki, spokeswoman for the $20.7 billion plan. ...

New Mexico PERA Greenlights Investments.(News)
November 10, 2008... Byline: Marc Sorondo The New Mexico Public Employees' Retirement Association (NMPERA) added two new funds to its alternative investments portfolio last month, confirmed Robert Gish, director of investments at the $12.2 billion plan. ...

Michigan Plan Adds On Int'l Equity Firms.(News)
November 10, 2008... Byline: Jakema Lewis The $173 million Monroe County Employees Retirement System has added on two new international equity managers at the fund. According to its September minutes, the Michigan system decided to award $10 million each...

40 Under 40.(Cover Story)
November 17, 2008... Byline: Editorial Staff Meet The New Boss Raise your hand if you're sick and tired of hearing about Dick Fuld. Or Stan O'Neal. Or Chuck Prince, Angelo Mozilo, Jimmy Cayne, Erin Callan and Alan Schwartz. Sure, they may be old news...

Texas TRS Makes Three New Appointments.(At Press Time)
November 17, 2008... Byline: Editorial Staff The $96 billion Teacher Retirement System of Texas (TRS) has made three new appointments in its investments division, naming a new deputy CIO, senior managing director of private markets and managing director of...

Illinois TRS Moves on from Batterymarch.(News)
November 17, 2008... Byline: Marc Sorondo Small-cap growth manager Batterymarch Financial Management has been terminated on a $215 million domestic equity mandate by the Teachers' Retirement System of Illinois. According a statement issued by TRS, the firm...

New Hampshire Plan Considers Three For Smid-Cap.(News)
November 17, 2008... Byline: Marc Sorondo The Manchester Employees' Contributory Retirement System (MECRS) will interview potential smid-cap equity managers at its Jan. 13 board meeting, said Gerard Fleury, executive director of the $150 million plan. ...

Brandeis Names New CIO for Endowment Fund.(News)
November 17, 2008... Byline: Jakema Lewis The CIO of Brandeis University's endowment has been tapped for the same position at Wellesley College. Deborah Foye Kuenster is replacing Jane Mendillo who became president and CEO at the Harvard Management Company...

Money Manager Starts Alternatives Biz.(Industry At A Glance)
November 17, 2008... Byline: Jakema Lewis Nuveen Investments is taking advantage the surge in interest for alternative strategies among institutional investors and has formed a new unit to serve the market. The firm announced last Thursday the creation of...

Odds & Ends.(Odds & Ends)
November 17, 2008... Byline: Editorial Staff * William Borland has joined the advisory board at Strategic Global Advisors. He was most recently managing director of sales, service and relationship management for Russell Investments institutional business. He...

Financial Woes Hits Asset Managers Market Mess Leads to Layoffs.(News)
November 17, 2008... Byline: Dave Lindorff This year's collapse in the financial markets, and the more recent flight to liquidity are not just taking a toll on the U.S. economy, which seems headed into a long and deep recession by most accounts. The whole...

New Mexico ERB Starts GTAA Search.(News)
November 17, 2008... Byline: Marc Sorondo As first reported on imweekly.com (11/10/08), the New Mexico Educational Retirement Board (NMERB) has dotted the i's and crossed the t's on the global tactical asset allocation (GTAA) RFI it has been prepping,...

Pa. State Plan to Issue Real Estate RFI.(News)
November 17, 2008... Byline: Jakema Lewis The Pennsylvania State Employees' Retirement System (PA SERS) will roll out an RFI for a real estate investment advisor later this month, confirmed Pamela Hile, spokeswoman for the fund. The Townsend Group...

FCERA Terminates Artisan, Wraps TIPS Search.(News)
November 17, 2008... Byline: Marc Sorondo The Fresno County Employees' Retire-ment Association (FCERA) has terminated small-cap equity manager Artisan Partners, said Roberto Pena, administrator of the $2.7 billion California plan. Artisan had been in...

Connecticut Fund Considers Manager Firing.(News)
November 17, 2008... Byline: Jakema Lewis The Town of Greenwich Retirement System discussed parting ways with BlackRock at late last month. The talks were prompted by underperformance by the manager, minutes from the Oct. 23 meeting indicate. The...

Core Bonds in The Cards at Mass. Fund.(News)
November 17, 2008... Byline: Marc Sorondo The Plymouth Contributory Retirement System has launched a search for a core fixed-income manager to oversee roughly $15 million. The board will consider proposals for both active and passive strategies. ...

Texas Trust Could Replace Consultant.(News)
November 17, 2008... Byline: Marc Sorondo The $54.8 billion Texas Treasury Safekeeping Trust Company (TTSTC) is searching for a new investment consultant, according to an RFP issued on its behalf by the Texas Comptroller of Public Accounts. The selected...

New PE Funds Approved at LA 911.(News)
November 17, 2008... Byline: Marc Sorondo The board of the Los Angeles Fire and Police Pensions (LAFPP) gave the go-ahead for two new investments at its meeting last week, confirmed Tom Lopez, CIO with the $11.7 billion plan. According to Lopez, the guns...

T. Rowe Price Adds to Global Suite.(At PressTime)
November 24, 2008... Byline: Editorial Staff T. Rowe Price has launched two new global products directed at institutional investors. The global large-cap strategy will invest in common stocks of larger, established companies domiciled throughout the world....

SamCERA Narrows Equity Search To Five.(News)
November 24, 2008... Byline: Marc Sorondo The San Mateo County Employees' Retirement Association (SamCERA) will interview AXA Rosenberg Investment Management, D.E. Shaw, Enhanced Investment Technologies (INTECH), Quantitative Management Associates (QMA) and T....

Odds & Ends.(Odds & Ends)
November 24, 2008... Byline: Editorial Staff * The Oklahoma Treasurer's Office has named Travis Monroe director of administration services, which makes him the new administrator of the $400 million Oklahoma Tobacco Settlement Endowment Trust Fund and the $160...

NHRS Picks Interim Executive Director.(Industry At A Glance)
November 24, 2008... Byline: Marc Sorondo The New Hampshire Retirement System (NHRS) has announced the selection of Merelise O'Connor to serve as interim executive director. O'Connor will take over following the departure of current Executive Director...

BlackRock Cutting Jobs for The First Time.(Industry At AGlance)
November 24, 2008... Byline: Editorial Staff BlackRock will be eliminating a number of positions among its 5,500 ranks, Bloomberg reported last week, quoting an internal memo it obtained. It will be the first time in its 20 years of existence that it has...

Texas Plan Looks At Consultant.(News)
November 24, 2008... Byline: Marc Sorondo The $476 million El Paso City Employees' Pension Fund may soon test the waters for an investment consultant. According to an agenda posted on the plan's Web site for a meeting last week, the board discussed the...

Firms Pick Up Structured Finance Pros Skill sets prove to be attractive to investors.(News)
November 24, 2008... Byline: Jakema Lewis The fallout in the asset- and mortgage-backed securities markets (ABS/MBS) has not only resulted in a trickle down effect on the whole economy, but also in the development of a new trend: structured financed...

Eagle Asset Sees Hope in Fixed-Income.(News)
November 24, 2008... Byline: Dave Lindorff The credit crunch that has left many bond funds reeling isn't causing James Camp to lose any sleep. This managing director and fixed-income portfolio manager at Eagle Asset Management said that the crisis that brought...

Montana Board Eyes Fund-Of-Funds Manager.(News)
November 24, 2008... Byline: Marc Sorondo The Montana Capital Investment Board (MCIB) is searching for a private equity fund-of-funds manager. According to an RFP issued by the Montana Department of Administration on the board's behalf, the selected firm...

Massachusetts Plan Seeks Core Plus Manager.(News)
November 24, 2008... Byline: Marc Sorondo A bond manager is being sought out by the Weymouth Retirement System to oversee a roughly $20 to $25 million mandate, said Marsha Silva, administrator with the plan. The approximately $145 million fund is...

L.A. County Narrows Two Searches.(News)
November 24, 2008... Byline: Marc Sorondo The investment board of the Los Angeles County Employees' Retirement Association (LACERA) has named finalists in its active small/mid-cap domestic equity and discretionary private equity middle-market searches. At...

Baltimore Guns & Hoses Plan Discusses PE.(News)
November 24, 2008... Byline: Jakema Lewis The Baltimore Fire and Police Employees' Retirement System added a new manager to oversee alternatives at the fund. According to documents released in anticipation of a Nov. 19 Board of Estimates meeting, the fund...

Oklahoma TRS Talks Contract Renewals.(News)
November 24, 2008... Byline: Marc Sorondo The Teachers' Retirement System of Oklahoma (TRS) was expected to consider renewing its contracts with several of its asset managers at a meeting last week. Up for discussion were mandates with Brandes Investment...