Alaska Retirement taps 2 to run $100 million each in MLPs
By Kevin Olsen | October 8, 2012 4:01 pm
Alaska Retirement Management Board, Juneau, hired Fiduciary Asset Management and Tortoise Capital Advisors to each run $100 million in master limited partnerships, confirmed Judy Hall, liaison officer.
Separately, the board, which oversees seven state retirement plans with combined assets of $19.8 billion, issued an RFP for actuarial audit services.
The selected firm will conduct a peer review of actual valuations and an experience study performed by the board's actuarial consultant, Buck Consulting.
Aon Consulting performed the last actuarial audit in 2009; it is invited to rebid, Ms. Hall said in a telephone interview. Alaska statute requires the board to conduct an independent audit of the actuary at least once every four years.
The RFP is available on the board's website at http://treasury.dor.alaska.gov/programs/documentviewer/viewer.aspx?960. Proposals are due at 4 p.m. AST Nov. 19. A hiring decision is expected by Dec. 10.