Searches and Hires

Plymouth County casts net for global multisector bond, short-duration credit managers

Plymouth County (Mass.) Retirement Association is looking to allocate about $30 million each to an active global multisector fixed-income manager and an active short-duration credit manager.

Meketa Investment Group, investment consultant to the $1 billion pension plan, is assisting with the searches.

The global multisector fixed-income manager is expected to achieve a net annual return of 5% to 6%. Meanwhile, the short-duration manager will be expected to outperform the Bloomberg Barclays 1-3 Year Credit index, while primarily investing in investment-grade corporate securities.

Both managers must have at least $1 billion in total assets under management, have $300 million invested in their proposed strategies and a five-year performance history in their respective strategies.

The RFPs are available on Meketa's website. Proposals are due by 3 p.m. EDT on Sept. 27. Selection dates were not disclosed.

Peter Manning, director of investments at the pension fund, and Colleen Smiley, a principal at Meketa, could not immediately be reached for comment.