The $23bn Arizona State Retirement System is planning to dispose of its entire $200m real estate and mortgage portfolio and will begin a search in mid June for a commercial mortgage advisor to conduct the sale.
Additionally, the fund is currently in the process of reviewing asset managers for its small and large cap portfolios.
Last December, the fund began a search for small and large cap managers, and according to Paul Matson, senior investment manager at the fund, no date has yet been set for appointments. Both portfolios are worth $900m each. William M Mercer is the fund's investment consultant.
The fund is also in the process of appointing a new actuary. According to Matson a recommendation will go to the board of trustees on June 14, 2001.
By Geoffrey Ho
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).