Key Takeaways
- • Falmouth (Mass.) Retirement System is searching for passive domestic small-cap core equity managers to run $35 million to $40 million, according to two RFPs posted by investment consultant Wainwright Investment Counsel.
- • The pension fund is also seeking passive domestic midcap equity managers to run between $32 million and $37 million under a separate mandate.
- • The $263 million fund will consider only commingled vehicles for both mandates, with the small-cap product benchmarked to the S&P 600 Index and the midcap product to the S&P 400 Index.
- • Proposals are due by 2 p.m. EST on Dec. 1, and the board expects to award contracts at least 30 and no more than 45 business days after the last offeror is evaluated.
Summary
The Falmouth (Mass.) Retirement System is running two separate manager searches for passive domestic equity exposure, according to two requests for proposals (RFPs) published on the website of investment consultant Wainwright Investment Counsel, which is assisting with the searches. The $263 million pension fund is seeking a passive domestic small-cap core equity manager to run between $35 million and $40 million, and a passive domestic midcap equity manager to run between $32 million and $37 million.
Both mandates are restricted to commingled vehicles. The proposed small-cap product must aim to replicate the S&P 600 Index, while the midcap product must aim to replicate the S&P 400 Index. The searches therefore target index-tracking strategies rather than active management.
Proposals are due by 2 p.m. EST on Dec. 1. The board expects to award each contract at least 30 business days but no more than 45 business days after the last offeror is evaluated, per the RFPs. The RFPs are available on Wainwright Investment Counsel's website.
Both mandates are restricted to commingled vehicles. The proposed small-cap product must aim to replicate the S&P 600 Index, while the midcap product must aim to replicate the S&P 400 Index. The searches therefore target index-tracking strategies rather than active management.
Proposals are due by 2 p.m. EST on Dec. 1. The board expects to award each contract at least 30 business days but no more than 45 business days after the last offeror is evaluated, per the RFPs. The RFPs are available on Wainwright Investment Counsel's website.
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