Ferris State University and The Ferris Foundation, Big Rapids, Mich., are searching for an investment consultant for the university's $130 million operating funds and its $70 million endowment pool.
The search is being conducted as part of required regular rebidding of the contract, which currently is held by Fund Evaluation Group, said Karen Thompson, the university's investment officer, Fund Evaluation Group may rebid, Ms. Thompson said.
The asset allocation for the endowment pool is 20% international equities, 18% U.S. equities, 16% absolute-return hedge funds, 12% hedged equity funds, 10.5% natural resources, 8% investment-grade fixed income, 5% private equity, 4% real estate, 3% high-yield, 1.5% each distressed debt and commodities, and 0.5% cash.
The RFP is available on The Public Group's website, an electronic procurement site. Registration is required. Proposals are due March 16; finalist presentations will be April 7, and a selection will be made April 17. The chosen firm's contract will begin June 20.