US - The US$64.5bn Ohio Public Employees Retirement System (OPERS) has tendered for an emerging markets equity index manager.
The fund is looking to hire one manager to manage US$25m - $100m in a passively managed emerging markets equity portfolio, benchmarked to the MSCI Emerging Markets Index.
In addition, OPERS has retained Gabriel, Roeder, Smith & Company (GRS) as its actuary. The Board voted at its May investment committee meeting to retain GRS with effect from 2006 when the current contract expires.
GRS has served as OPERS actuary since 1954. The fund received proposals from Deloitte Consulting, GRS, Mellon and The Segal Company after re-tendering the brief earlier this year.
The fund’s current asset allocation stands at 48.2% US equity, 22.4% global bonds, 23% non-US equity, 5.4% real estate, 0.6% private equity and 0.4% operating cash.
Ennis Knupp & Associates is advising OPERS on the emerging markets tender. Deadline for tender is June 24.
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