Brockton (Mass.) Contributory Retirement System is searching for a fixed-income manager to run up to $33 million, according to an RFP posted on the website of NEPC, the $325 million pension fund's consultant.
Pension fund officials are looking for a “diversified” manager, according to the RFP, using “strategies that are different from core-plus mandates or other benchmark-constrained fixed-income products.”
“We've discussed various types of fixed-income investments,” Harold Hanna, the pension fund's executive director, said in an interview. “We'll see what proposals we get. We could end up staying with a traditional manager.”
Funding would come from a similarly sized corporate fixed-income portfolio managed by Loomis Sayles. “Performance has been lackluster in the last couple years, but they've been mainstays with us since we started investing in the 1960s,” Mr. Hanna said. Loomis Sayles may rebid, he said. Spokesmen at Loomis Sayles could not be immediately reached for comment.
All questions as well as electronic copies of the RFP and supporting documents should be sent to Will Forde, analyst at NEPC, at email@example.com.
Proposals are due at 4 p.m. EDT Sept. 20. A selection is expected by the end of the year, Mr. Hanna said.