Connecticut Retirement Plans & Trust Funds, Hartford, has issued an RFP for one or more managers of global inflation-linked bonds, according to a posting on the website of the state treasurer's office.
The contract is expected to be for five years, according to the RFP, which is posted on the treasurer's website.
State Treasurer Denise Nappier, the principal fiduciary of the $26.1 billion state pension system, said in an e-mail that the search reflects “an attempt to better diversify the risk-return profile of the fund by incorporating inflation rates from non-U.S. markets.”
Manager duties will include supervising and directing investments in a separately managed account, managing the foreign exposure of the non-U.S. dollar-denominated global inflation-linked bonds, proposing investment guidelines to manage the portfolio and maintaining a system of risk controls, the RFP said.
Proposals are due at noon EDT May 3. Interviews will be conducted in July and August. New contracts will take effect Nov. 1.