Danville (Va.) Employees' Retirement System issued an RFP for an investment consultant for the $200 million pension fund.
The scope of work includes investment policy, performance evaluation, on-site consultation and investment manager selection.
The contract is for five years, with a five-year renewal option, according to the RFP. Dahab Associates, the pension fund's consultant since 1986, is eligible to bid.
“The retirement system is not required to seek competitive bids for its investment contracts, but since it's been so long, the board decided to do it,” Gary Via, city purchasing director, said in an interview. “There were no negative issues with Dahab.”
The RFP is available from the city's website. Proposals are due by 5 p.m. EST on Dec. 28. Mr. Via said the board hoped to have a shortlist by mid-January.