The $490m Cambridge Retirement System has appointed MFS Institutional Advisors to run a $45m active US large cap value equities mandate.
Anne Leduc, executive director of the fund, said that MFS' contract will run for three years. All the fund's mandates run for three years before being re-tendered, she said. Kevin Leonard, of Segal Advisors, is the fund's consultant.
The Cambridge Retirement System has 3655 active and 1629 retired members. In 2000 the fund posted a return of 6.7% and has a funded ratio of 88.9%. Watson Wyatt is the fund’s actuary.
MFS Institutional Advisors, a division of MFS Investment Management, manages equity and fixed-income assets for a broad client base that includes public pension plans, corporate pension plans, bank trust clients, insurance companies, endowments and foundations, individuals, multi-employer plans, and investment advisory firms.
Based in Boston, MFS invented the Massachusetts Investors Trust America's first mutual fund in the spring of 1924.
By Geoffrey Ho
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
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