External Advisor Long Only Public Equities Domestic Large CAP Value
ERS is looking for an external advisor to manage a long only domestic large cap value equity portfolio. ERS’ investment objective is to have a vehicle that can generate excess returns of at least 150 basis points in a risk-controlled manner. The expected benchmark will be the S&P 500/Citigroup Value index. Outperformance is expected to come primarily from stock selection. The investment vehicle for this mandate will be an advisory relationship where ERS will do all trading in-house. However, ERS may consider a Limited Partnership Agreement which would allow the manager selected to retain trading responsibility. Please respond as to whether or not your firm would be willing to use an advisory relationship or not. ERS will allocate $200 million to $300 million to the external advisor
