Searches and Hires

Iowa PERS preps search for consultant to evaluate options to manage assets internally

Iowa Public Employees' Retirement System, Des Moines, plans to issue an RFP for a consulting firm to help evaluate options for implementing internal investment management within the $32.4 billion pension plan, according to a summary of the pension fund's March 23 board meeting.

The RFP will be available on IPERS' website by mid-April. Further information regarding the search or how much the plan intends to manage internally was not available; IPERS spokeswoman Judy Akre did not immediately return a phone call.

Also, IPERS returned 14.6% net of fees for the year ended Dec. 31, which outperformed the policy benchmark return of 13.9%, as presented by investment consultant Wilshire Associates at the meeting.

Documents from the plan's website show that as of Oct. 31, IPERS had a target asset allocation of 24% to 30% core-plus fixed income; 20% to 26% domestic equities; 12% to 18% international equities; 11% private equity; 5% to 9% public real assets; 7.5% private real assets; up to 5% public credit; 2% to 4% global smart beta equities; up to 4% cash; and 3% private credit.