New York City Deferred 457 Compensation plan will issue an RFP on April 7 for global wrap managers to wrap its $350 million in open maturity synthetic contracts, said Lou Porpora, contracts supervisor. Contracts of two of the $4.2 billion plan’s three wrap managers — Diversified Financial and RaboBank — expire at the end of the year, but both were invited to rebid. The contract of the third wrap manager, Bank of America, started Jan. 2.
On April 14, the plan will issue an RFP for a manager to run its $413 million small-cap fund, currently managed by T. Rowe Price. That contract expires June 30.
