Groton Retirement Board seeks investment consultant

Groton (Conn.) Retirement Board is looking for an investment consultant to advise the city’s $75 million pension plan.

Hooker & Holcombe has been brought on board to assist with the search. The firm will not be submitting a bid, said Arthur J. Meizner, director of investment consulting services at Hooker & Holcombe.

Current investment consultant GYL Financial Synergies is invited to rebid.

The pension plan’s investment portfolio had 41% allocated to U.S. equities (34% to passive, 7% to active) as of Sept. 30; 33% U.S. fixed income (all active); 17% international equities (10.5% passive, 6.5% active); 4% real estate (all passive); 3% alternatives (all active); and 2% cash.

A copy of the RFP is available on the city of Groton’s website. Proposals are due by 4 p.m. EST on March 9. A selection is expected to be made in April.

Further information could not be learned by press time. Deb Patrick, city clerk, did not immediately return a phone call.