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
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.