Florida Prepaid College Program, Tallahassee, plans to name a domestic fixed-income and an S&P 500 index manager within the next few weeks. The $2 billion funds contract with US Trust, which handles 88% of the funds total assets in fixed-income, expires soon. The incumbent manager has rebid. S&P 500 is a new asset style for the program, which the board decided to pursue for diversification.
The mandate sizes have not been determined, said Colleen Englert, director of marketing and communication.