The Montana Board of Investments, Helena, hires five managers

The Montana Board of Investments, Helena, hired five managers to run active domestic equity portfolios, pending contract negotiations, confirmed Carroll South, executive director. They are: Artisan Partners, midcap value; TimesSquare Capital Management, midcap growth; Martingale Asset Management, midcap core; NorthPointe Capital, small-cap growth; and Vaughan Nelson Investment Management, small-cap value. Officials of the $7.2 billion fund have not decided the portfolio sizes or a total amount to the strategy.

The new allocations would increase diversification by adding active management to the fund’s existing domestic small-cap to midcap investments: a $200 million S&P 400 index account run by Barclays Global Investors and a $226 million Russell 2000 index account managed by Dimensional Fund Advisors. A source of funding has not been determined, but BGI’s account may be closed, Mr. South said.

R.V. Kuhns assisted with the RFP, which was issued in September.

Full Story:
http://www.pionline.com/news.cms?newsId=4517