Waltham, Mass., pension fund hunting for investment consultant

Waltham (Mass.) Contributory Retirement System is searching for an investment consultant, confirmed Joseph Juppe, executive director of the $160 million pension fund.

The consultant will review the pension fund's existing asset allocation and strategies of the existing money managers, and prepare recommendations to reduce investment fees, according to the RFP.

The pension fund does not currently have an investment consultant. It invests through the $50.7 billion Massachusetts Pension Reserves Investment Trust, Boston, and is evaluating what it needs to do to take its assets out, Mr. Juppe said in a telephone interview.

The contract is for one year with two additional one-year renewal options.

The RFP can be obtained by e-mailing retirement@city.waltham.ma.us. Proposals are due at 4:30 p.m. EST Nov. 23. A hiring decision is expected on Dec. 20.