Searches and Hires

Missouri State Employees seeks investment consultant for board

Missouri State Employees' Retirement System, Jefferson City, is searching for an investment consultant, said Candy Smith, pension fund spokeswoman, in an email.

The $8 billion pension fund has issued an RFP for a board investment consultant, Ms. Smith said. This is a different role than current general asset consultant Summit Strategies Group has with the pension fund, she added.

"MOSERS is conducting this search to seek a board investment consultant to provide investment advisory and oversight services directly to the MOSERS board of trustees. The board investment consultant will assist the MOSERS board in overseeing the system's investment management functions, developing investment policy, and executing board-approved investment policy. The board investment consultant will act solely on behalf of the MOSERS board," Ms. Smith said.

The board investment consultant, which will not provide any advisory services to MOSERS staff, is a new role for MOSERS. Ms. Smith said Summit Strategies Group is welcome to bid for the services.

The target asset allocation is 25% nominal bonds, 23% inflation-indexed bonds, 22% opportunistic global equities, 18% alternative betas and 12% commodities.

The pension fund's asset allocation as of Dec. 31 was 25% opportunistic global equities, 24% nominal bonds, 21% inflation-indexed bonds, 19% alternative betas and 11% commodities.

The RFP is posted on MOSERS' website. Proposals are due at 4:30 p.m. CST on March 7. Finalist interviews are scheduled for March 29. A timeline for a decision was not provided.