Texas Prepaid Higher Education Tuition Board seeks core bond manager

Texas Prepaid Higher Education Tuition Board, Austin, is searching for an active domestic core fixed-income manager to run about $300 million for its $1.4 billion Texas Guaranteed Tuition Plan, confirmed spokesman R.J. DeSilva.

The search is to potentially replace Advantus Capital Management. Its contract expires Aug. 31 with no further renewals, Mr. DeSilva said in an e-mail. Advantus is invited to rebid.

The search represents the only domestic fixed-income option for the 529 plan.

The RFP is available on the state’s procurement website. Proposals are due at 2 p.m. CDT March 28. A hiring decision could be made in May. The contract starts Sept. 1.