Louisiana Asset Management Pool, New Orleans, which runs a $300 million short-term investment fund for local governments, is searching for an investment manager, said Tony Gelderman, secretary-treasurer. The search is being conducted because the fund's three-year contract with Reich & Tang, its sole manager, is expiring.
RFPs will be sent Oct. 1 and are due Nov. 18. A selection is expected in December. The new contract will be for a five-year term. Mr. Gelderman said Reich & Tang is expected to re-bid. He added the asset management pool likely will stick with one manager.
Mr. Gelderman said the management pool may create an intermediate-term fund next year, but no decision has been made. If it goes forward, another manager will be sought, he said.
