Massachusetts Water Resources pension fund dives into custodian hunt

Updated with correction Sept. 17, 2012

Massachusetts Water Resources Authority Employees' Retirement System, Chelsea, is searching for a global custodian for the $320 million defined benefit plan, confirmed Sheryl Trezise, executive director.

Ms. Trezise said the pension fund is conducting the search to see what options are available in terms of costs comparisons. Incumbent State Street is invited to rebid.

The RFP is available on investment consultant NEPC's website at www. nepc.com/investment_managers/advertised_searches/51-mwra_retirement_system_custodial_banking_services_search. Proposals are due at 4 p.m. EDT Sept. 28. A hiring date has not been determined.