Equity Searches Abound in Cincinnati
April 23, 2008
The $2.6 billion City of Cincinnati Retirement System (CRS) is moving ahead with its search for small-cap value and mid-cap growth equity managers, said John Boudinot, executive director at the plan.
Boudinot said that the two searches, each for a manager to oversee a $40 million mandate, come as a result of reallocation efforts conducted by the board last year following the approval of a new asset allocation. "Last year, while reallocating assets, we parked assets for small-cap and mid-cap in an index fund with RhumbLine Advisors," he explained, adding that the firm is now looking to move those assets back into active management.
Boudinot said that the small-cap search is already being conducted. Fisher Investments, Tocqueville Asset Management and WCM Investment Management will be interviewed by the board in June.
Also in June, Marquette Associates will present a list of candidates to the board for the mid-cap search from which CRS will select finalists.
The target asset allocation approved last year by the CRS board is 43.5% domestic equity, 17% each in international equity and fixed-income, 7.5% in real estate and 5% each in private equity, infrastructure, and long/short equity.
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