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Questions over dark pools prompt changes in best execution
trueRecent investigations into dark pools and high-frequency trading are causing institutional investors to reconsider just what constitutes best execution — and how to measure it. And the pressure to convey that to asset owners is falling on money managers and investment consultants.
CalSTRS picks firms for securities lending, cash collateral management
trueCalSTRS intends to award contracts to several firms to provide securities lending and cash collateral management services for its equity portfolio.
Ann Arbor Employees chooses Russell for transition management
trueAnn Arbor (Mich.) Employees' Retirement System hired Russell Investments to handle the transition of $56 million in actively managed core fixed-income assets from terminated manager Bradford & Marzec.
New Mexico PERA lines up custodian search
trueNew Mexico Public Employees Retirement Association is expected to launch an RFP for a custodian on Sept. 2.
Monroe, Conn., on lookout for pension fund consultant
trueMonroe, Conn., is searching for an investment consultant for its $20 million pension fund.
Erie, Pa., wants small- and midcap managers, custodian for 4 pension funds
trueErie, Pa., is searching for a custodian, a midcap core equity manager to run approximately $26 million and a small-cap growth equity manager to run approximately $12 million for the city's four pension funds.
Montana Board of Investments keeps State Street as custodian
trueMontana Board of Investments rehired State Street Bank as custodian, pending contract negotiations.
Arizona reissues RFP for performance audit for 2 pension funds
trueArizona Office of the Auditor General, Phoenix, reissued an RFP for a firm to conduct a performance audit of the $33.7 billion Arizona State Retirement System and $7.9 billion Arizona Public Safety Personnel Retirement System.
Asset owners mull tightening control on trade execution
trueAsset owners are paying a lot more attention to where their money managers execute trades — decisions that have generally been left to the discretion of the managers — and some are considering directing their managers to avoid specific venues.
No summer lull in transition management
trueJuly – a normally quiet month in transition management – was anything but this year.
Concord Contributory issues call for custodian
trueConcord (Mass.) Contributory Retirement System is searching for a custodian.
J.P. Morgan promotes new head of global custody
trueChris Rowland was named global head of custody for J.P. Morgan Chase's custody and fund services business, effective immediately, said a memo to company staff.
Iowa Municipal Fire & Police seeks actuarial auditor
trueIowa Municipal Fire & Police Retirement System issued an RFP for an actuarial audit services firm.
Texas Prepaid changes provider for 3 plans
trueTexas Prepaid Higher Education Tuition Board hired NorthStar Financial Services Group as service provider for its $413 million Texas Tuition Promise Fund, $252 million Texas College Savings Plan and $154 million LoneStar 529 Plan.
New York State Deferred Comp issues call for custodian
trueNew York State Deferred Compensation Plan is searching for a custodian/trustee.