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U.S. Equity Asset Class

News

Institutional Investors Distancing Themselves From Active Managers

After active managers fell in lockstep with their benchmarks and all of the major indexes in 2008, many institutional investors are paring back their investments with active managers in favor of low-cost passive alternatives, The Wall Street Journal reported today. 'Active managers have not given us the added performance in a down market that we hoped for,' said Bill Atwood, executive director of the Illinois State Board of Investment, who recently moved $400 million of the…

Canadian Asset Manager Names CEO

Alexander Sasso will head the operations at Hesperian Capital Management in his new role as CEO, the small- and mid-cap equity manager has announced. Sasso has been with the Canadian-based Hesperian since 2004, when he joined the firm as a VP, owner and portfolio manager, with responsibility for managing the Norrep Fund, Norrep II Class, and Norrep Income Growth Class funds. He will retain those duties in his new position. Prior to joining Hesperian, Sasso…

ICAP Hires New President

Institutional Capital (ICAP) has promoted Paula Rogers to the position of president, a newly created role at the large-cap value shop. Rogers, who will remain on ICAP's investment management committee, will now oversee all business development, client services and operational areas at the firm. She reports to Jerrold Senser, CEO and CIO at ICAP. Rogers has been with the firm for 12 years. Meanwhile, Scott Weisenberger has also been promoted. He will now perform in the role…

Ohio SERS Adds to Manager Roster

Manning & Napier Advisors, Neuberger Berman Group and Oaktree Capital Management have been added to the manager roster at the School Employees' Retirement System of Ohio (SERS). Tim Barbour, spokesman for the $7.9 billion plan , said the board hired Manning & Napier and Neuberger Berman to manage up to $150 million each in large-cap domestic equity mandates, according to the highlights of the plan's March meeting.

San Mateo Mulls Consultant Search

The board of the San Mateo County Employees' Retirement Association (SamCERA) received presentations from the Boston Company Asset Management, Denver Investment Advisors, Mesirow Financial Investment Management and Netols Asset Management this week, as it looks to fill a small-cap slot on its roster. The hired firm would oversee a fundamental value equity mandate, according to the agenda from a March 24 meeting. The board also discussed the potential issuance of an RFP for an investment consultant. Strategic…

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Articles

Iowa PERS Makes Portfolio Changes

The Iowa Public Employees' Retirement System (IPERS) has approved increases in its allocations to long-only enhanced equity index strategies and to global macro for use in a portable alpha strategies, said Karl Koch, CIO with the $16.8 billion plan. 'RFPs for the global macro and the long-only enhanced equity index mandates will be issued sometime late summer, after August 1,' he said. Koch said the plan's consultants with Wilshire Associates would be assisting with the…

San Jose Plan Watches Brandywine, Plots New Search

The investment committee for the San Jose Federated City Employees' Retirement System reviewed the poor performance of Brandywine Global Investment Management at a meeting this week, confirmed Ron Kumar, financial analyst at the $1.4 billion plan. The firm oversees a $25 million diversified small-cap value mandate. Kumar said that the firm has been placed on probation. A shortlist search to potentially replace Brandywine will be conducted in the third quarter. Brandywine would be included in…

Tulare County Completes Search and Study

The Tulare County Employees' Retirement Association (TCERA) has completed an asset/liability study and as a result will up the ante on its allocations to private equity and hedge funds, and make maiden investments in TIPS and emerging markets. David Kehler, administrator of the $1 billion plan, said that the board will look at the individual asset classes over the next few months to determine the actual sizes of the new and increased allocations. This will help…

Florida Cop Fund Seeks Small-Cap

The $50 million Davie Police Pension Plan has placed a $4 million small-cap equity mandate up for grabs. According to the RFP issued for the search, the Florida plan will consider core, value and growth strategies. Further details were unclear, as calls to William Ackerman, budget and finance director for the Town of Davie, were not returned by press time. Also, David Lee, the plan's consultant with Dahab Associates, did not respond to requests seeking additional information.…

Illinois TRS Awards $100M to PIMCO

The Teachers' Retirement System of Illinois (TRS) has made a $100 million investment in a term asset-backed loan facility (TALF) through PIMCO. The firm also manages a fixed-income mandate for the plan. 'PIMCO was selected because the firm has a long and respected history at TRS and this TALF commitment represents an attractive opportunity for TRS,' said Eva Goltermann, spokeswoman for the $27.2 billion plan. Goltermann noted that the board would review other TALF funds as…

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