Milwaukee Employees Retirement System will seek bids for its investment consultant contract shortly, said Anne Bahr, executive director of the $4.3 billion pension fund. The board will review a draft RFP in late March as part of a normal three-year review, she said.
Plan Sponsor Exchange formerly Asset Strategy Group is the funds consultant, and board members will have to decide if they want separate vendors for consulting and reporting relationships, Ms. Bahr said. The consultant has revamped its business model and cost structure as part of its recent sale. In addition, board members would be very sensitive to any appearance of a conflict of interest, she said. Plan Sponsor Exchange receives a large proportion of its revenues from money managers.