PERAC Memo #26 - 2004: Investment Manager List
Investment Manager List
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This memo provides the quarterly (as of 6/30/04) update to PERAC's list of investment managers pre-approved for exemption under 840 CMR 19.01 in international equity, international fixed income, real estate, and alternative investments—only including managers/funds still open to new investors. Boards that already hold an exemption for a given asset class do not need to reapply when hiring a manager from this list, but must still submit a Competitive Process Notification Form, Vendor Certification Form, and Disclosure Form and obtain PERAC acknowledgement before transferring funds; no exemption is needed at all for domestic equity/fixed income managers. Boards may also hire managers not on the list by requesting a separate exemption, and should note this list is distinct from PERAC's general Investment Managers, Consultants, and Custodians directory.
Full Text
Memorandum # 26/2004
M E M O R A N D U M TO: All Retirement Boards FROM: Joseph I. Martin, Deputy Executive Director RE: Investment Manager List
DATE: July 13, 2004
In accordance with 840 CMR 19.01, the following is the updated list of investment managers who have been approved for exemption in the asset classes of international equity, international fixed income, real estate, and alternative investments. The list consists of investment managers who have been the subject of approved applications for exemption on or before the effective date of the new investment regulations (7/10/98) and managers who have been approved after that date. The list includes only managers or funds that remain open to new investors; managers/funds that are closed will either not appear on this list or will be deleted upon closure.
The significance of this list is that, for retirement boards that have been previously granted an exemption for the particular asset class, they need not apply for an exemption in order to retain managers on this list. In hiring managers on this list, boards are still required to submit to PERAC 1) a Competitive Process Notification Form, 2) a Vendor Certification Form, and 3) a Disclosure Form in accordance with 840 CMR 17.04 8(a) and (b) and to receive acknowledgement from PERAC prior to transfer of funds. Retirement boards are also free to consider managers not on this list and to request exemptions for such managers.
Please note that, in accordance with 840 CMR 19.02 (5), exemptions are not required for the hiring of managers in the asset classes of domestic equity and fixed income. Only the submission of the three documents noted above is required. Accordingly, this list does not include managers in these asset classes.
Please note that the list of managers who have been subject to an exemption (waiver) is a separate and distinct list from the listing of Investment Managers, Consultants, and Custodians.
PERAC will update this list on a quarterly basis and will make this list available on the PERAC Home Page. If you have any questions, please call Rose Cipriani at 617-666-4446 ext. 931.
PERAC LIST OF INVESTMENT MANAGERS AS OF 6/30/04
INTERNATIONAL EQUITY MANAGERS
Acadian Asset Management Acadian International Small Cap Fund, LLC Arrowstreet Capital, L.P. Bank of Ireland Group Trust SAF International Equity Sub Trust Baring Full Active/Passive Equity (Lending) Fund G Boston Company Emerging Markets Pooled Fund Boston Company International ACWI Equity Fund Boston Company International Core Equity Fund Boston Company International Equity Fund Brandes International Equity Trust Brandywine International Equity Value Fund Capital International Emerging Markets Growth Fund Columbia International Equity Fund Denver International Small Cap Equity Fund Deutsche Asset Management EuroPacific Growth Fund Fidelity International Growth Commingled Pool Fidelity Select International Equity Fund Fisher Investments, Inc. Foreign & Colonial Emerging Markets Limited Frank Russell International Fund Freedom International Fund GMO ERISA Pool GMO International Intrinsic Value Fund Hotchkis and Wiley International Equity Group Trust INVESCO Global Asset Management (N.A.), Inc. IRT International Equity Fund Jarislowsky Fraser International Equity Fund Julius Baer International Equity Strategy Fund Lazard Freres International Equity Fund MFS Institutional Advisors, Inc. MFS Institutional International Equity Fund PanAgora Asset Management Principal Global Investors International Equity Fund Rexiter Active Emerging Markets Fund SSGA Active International Small Cap SL Common Trust Fund SSGA Daily Active Emerging Markets Fund SSGA Daily EAFE Securities Lending Fund SSGA Daily International Alpha Securities Lending Fund
INTERNATIONAL EQUITY MANAGERS (cont’d)
SSGA International Growth Opportunities Fund SSGA MSCI-EAFE Index Fund Templeton Foreign Equity Series Fund Templeton Institutional Funds, Foreign Equity Series Primary Shares Walter Scott International Fund, LLC Wells Fargo Montgomery Institutional Emerging Markets Fund WTC-CIF International Research Equity Portfolio
INTERNATIONAL FIXED INCOME MANAGERS
American Express Asset Management Group Brandywine Global Fixed Income Fund Delaware Pooled Trust Global Fixed Income Portfolio Delaware Pooled Trust International Fixed Income Portfolio Julius Baer Government Bond International Portfolio Loomis, Sayles & Company, L.P. McDonnell Investment Management, LLC Oechsle International Non-US-Co-Mingled Fund Phoenix Aberdeen International Bond Portfolio Rogge International Bond Fund SSGA Passive World Government Bond Ex-US Index SL Common Trust Standish Mellon International Fixed Income Fund Wellington Management Company WTC-CIF International Bond Unhedged Portfolio
REAL ESTATE INVESTMENT MANAGERS
AFL-CIO Housing Investment Trust Bailard, Biehl & Kaiser REIT Fund Boston Capital Fixed Income Mortgage Fund I LLC Carey Institutional Properties Fund Cathartes/AEW L.L.C. Clarion Lion Properties Fund Duff & Phelps Real Estate Securities Trust Fidelity Real Estate Growth Fund, L.P. Fidelity Real Estate Growth Fund II, L.P. GFP Institutional Global Timber Investors VI Ltd. Guggenheim Real Estate Plus Fund Hearthstone – MSII Homebuilding Investors Hearthstone Multi-State Residential Value Added Fund III Heitman Value Partners, L.P. Henderson Real Estate Investors (RESA) Intercontinental Real Estate Investment Fund III, LLC Intercontinental Real Estate Investment Fund IV, LLC
REAL ESTATE INVESTMENT MANAGERS (cont’d)
IRT Equity Real Estate Securities Fund L&B Realty Investment Program LaSalle Income & Growth Fund III Lend Lease Value Enhancement Fund V MetLife Tower Fund Morgan Stanley Prime Property Fund Multi-Employer Property Trust Multi-Family Development Program III New Boston Institutional Fund, L.P. VI Prudential Real Estate Investors (PRISA Fund) Residential Income and Value Added (RIVA) Fund RREEF America REIT II Sentinel Realty Partners VI Sentinel Realty Partners VII SSGA Active REIT Fund SSR Apartment Value Fund II, L.P. TA Realty Associates Fund VI TA Realty Associates Fund VII UBS Real Estate Separate Account (RESA) Urdang & Associates Real Estate Advisors Wachovia Balanced Timberland Fund B
ALTERNATIVE INVESTMENT MANAGERS
Ascend Ventures II, L.P. Ascent Venture Partners IV, L.P. HarbourVest Partners VII – Mezzanine Fund L.P. INVESCO Venture Partnership Fund IV, L.P. Leeds Weld Equity Partners IV, L.P. Merrill Lynch Diversified Private Equity Program II MTDC Heritage Fund VSS Mezzanine Partners, L.P.