PERAC Memo #40 - 2007: Investment Manager List
Investment Manager List
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This memo transmits PERAC's quarterly-updated list (as of 9/30/07) of investment managers/funds pre-approved via exemption under 840 CMR 19.01 for international equity, international fixed income, real estate, and alternative investment asset classes. Boards may hire managers from this list without seeking a separate exemption, but must still submit a Competitive Process Notification Form, Vendor Certification Form, and Disclosure Form and obtain PERAC acknowledgement before transferring funds; managers not on the list may still be considered via a separate exemption request. No exemption—only the three required forms—is needed for domestic equity/fixed income hires, and this list is distinct from PERAC's general Investment Managers, Consultants, and Custodians listing.
Full Text
MEMORANDUM #40, 2007 M E M O R A N D U M TO: All Retirement Boards FROM: Robert A. Dennis, Investment Director RE: Investment Manager List DATE: October 22, 2007 In accordance with 840 CMR 19.01, the following is the updated list of investment managers who have been the subject of an 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 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. Enclosure PERAC LIST OF INVESTMENT MANAGERS AS OF 9/30/07 INTERNATIONAL EQUITY MANAGERS Acadian Asset Management Acadian International All Cap Fund Acadian International Equity Fund Acadian International Small Cap Fund Alliance Bernstein Emerging Markets Value Account Arrowstreet Capital, L.P. Baring Full Active/Passive Equity (Lending) Fund G Boston Company EAFE Value Fund Boston Company Emerging Markets Pooled Fund Boston Company International ACWI Equity Fund Boston Company International Core Equity Fund Boston Company International Equity Fund Boston Company International Small Cap Equity Fund Brandes International Equity Trust Brandywine International Equity Value Fund Denver International Small Cap Equity Fund Dimensional Emerging Markets Value Portfolio EuroPacific Growth Fund Evergreen International Small Cap Equity Strategy Fisher Investments, Inc. Fisher Investments Foreign Equity Fund Foreign & Colonial Emerging Markets Limited Frank Russell International Fund GlobeFlex International Small Cap Equity Fund GMO ERISA Pool GMO Global Balanced Asset Allocation Fund GSTCO Structured International Equity Fund HIS International Growth Fund Hotchkis and Wiley International Equity Group Trust IRT International Equity Fund Jarislowsky Fraser International Equity Fund Julius Baer International Equity Fund II Julius Baer International Equity Trust Fund KBC Investment Trust Lazard Asset Management, LLC Lazard Emerging Markets Equity Portfolio Lazard Freres International Equity Fund LSV International Value Equity Fund Mellon Global Alpha I Fund MFS Institutional Advisors, Inc. MFS Institutional International Equity Fund OFITC Emerging Markets Equity Fund PanAgora Asset Management PIMCO All Asset Fund Pyramis International Growth Commingled Pool Pyramis Select International Equity Commingled Pool Rexiter Active Emerging Markets Fund SSGA Active International Small Cap SL Common Trust Fund SSGA All International Allocation Common Trust Fund SSGA Daily Active Emerging Markets Fund SSGA Daily International Alpha Securities Lending Fund SSGA International Growth Opportunities Fund SSGA MSCI-EAFE Index Securities Lending Fund Templeton Foreign Equity Series Fund Templeton Institutional Funds, Foreign Equity Series Primary Shares Vontobel Asset Management Voyageur International Fund WTC-CIF Asia Pacific ex-Japan Portfolio WTC-CIF International Growth Portfolio WTC-CIF Opportunistic Investment Portfolio INTERNATIONAL FIXED INCOME MANAGERS Aberdeen International Bond Portfolio Baring International Group Trust Fund F Brandywine Global Fixed Income Fund Colchester Global Bond Fund Delaware Pooled Trust Global Fixed Income Portfolio Delaware Pooled Trust International Fixed Income Portfolio Evergreen International Bond Fund GMO Global Balanced Asset Allocation Fund Julius Baer Global High Income Fund Lazard Emerging Income Fund Loomis, Sayles & Company, L.P. McDonnell Investment Management, LLC Mellon Global Alpha I Fund PIMCO All Asset Fund RiverSource Investments, LLC Rogge International Bond Fund WTC-CIF International Bond Unhedged Portfolio WTC-CIF Opportunistic Investment Portfolio REAL ESTATE INVESTMENT MANAGERS AEW Partners V, L.P. AEW Value Investors II, L.P. AFL-CIO Housing Investment Trust American Stable Value Fund AmSouth Timber Fund Arsenal Real Estate Fund IA, L.P.Bailard Real Estate Investment Trust I Beacon Capital Strategic Partners V, L.P. BlackRock Granite Property Fund BPG Investment Partnership VIII, L.P. BPG Investment Partnership VIIIA, L.P. Carey Corporate Properties Associates Fund 15 Clarion Lion Properties Fund Clarion Lion Value Fund Duff & Phelps Real Estate Securities Trust Fidelity Real Estate Growth Fund III, L.P. GFP Institutional Global Timber Investors VI Ltd. GMAC Commercial Realty Partners II, L.P. Guggenheim Real Estate Plus Fund Hancock Timberland VII Hearthstone – MSII Homebuilding Investors Hearthstone Multi-State Residential Value Added Fund III Heitman Value Partners, L.P. INVESCO Core Real Estate Fund IRT Equity Real Estate Securities Fund J.P. Morgan Special Situation Property Fund LaSalle Income & Growth Fund V Mesirow Financial Institutional Real Estate International Fund Morgan Stanley Prime Property Fund Multi-Employer Property Trust New Boston Institutional Fund, L.P. VI Principal U.S. Property Account Prudential Real Estate Investors (PRISA) Fund Prudential Real Estate Senior Housing Partners III RMK Balanced Timberland Fund B RMK Select Timberland Investment Fund II, LLC RREEF America REIT II RREEF Global Real Estate Securities Fund Sentinel Realty Partners VI SSGA Active REIT Fund TA Realty Associates Fund VIII UBS Real Estate Separate Account (RESA) Urdang Value Added Fund II, L.P. Value Enhancement Fund VI ALTERNATIVE INVESTMENT MANAGERS Castile Ventures III, L.P. DN Partners II, L.P. Hamilton Lane Private Equity Fund VI, L.P. Mesirow Financial Private Equity Partnership Fund IV MTDC Heritage Fund Perseus Partners VII, L.P.