US - The $747m Ohio State Highway Patrol Retirement System (HPRS) has selected six firms for its preferred broker list.
The six selected brokerage firms are Abel Noser, Goldman Sachs, Capital Institutional Services, Prudential Securities, Donaldson & Company and Robert W Baird & Co.
All 15 of the asset managers retained by the fund will have to direct HPRS business through the six brokers on the list. Prior to the new appointments, the HPRS used a commission recapture program.
Callan Associates assisted the fund with the search.
The HPRS is also set to conclude an asset liability study (ALS) in November. The results of the ALS could lead to mandates being put out to tender, Dick Curtis, HPRS executive director, said. Callan is assisting the fund with the ALS.
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