Taunton CRS Makes Manager, Custodian Updates

The Taunton Contributory Retirement System (TCRS) approved motions to rehire three investment managers and its bank custodian, while opting to go with a new manager for its emerging markets strategy, according to recently published minutes from its June 26 board meeting.

Taunton, MA-based TCRS agreed to retain Aberdeen as its U.S. small-cap equity fund manager, with a total of 57 RFP respondents considered for the position.

The retirement system retained State Street Global Advisors (SSgA) and RhumbLine Advisers to manage various index funds after receiving six RFP responses for the position. TCRS also chose to terminate GAM Emerging Markets Fund following the departure of portfolio managers Tim Love and Joaquim Nogueria, placing proceeds in the SSgA Emerging Markets Equity Index Fund.

Finally, TCRS retained Wilmington Trust as bank custodian, receiving three total responses for its custodian bank RFP.

Dahab Associates assisted with the manager selections.

According to Dakota data, TCRS manages $385M in assets.

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