Washington State Investment Board, Olympia, will issue an RFP in May for securities lending services for its $13 billion in fixed-income assets and $3 billion in international equities, said Gary Bruebaker, chief investment officer for the $53.7 billion system. State Street Bank, whose three-year contract as custodian was renewed Thursday, currently handles securities lending for the fund.
Separately, WSIB and the state Guaranteed Education Tuition Program plan to issue a joint RFP for managers to run portfolios for a new college savings program. The deadline is expected to be March 19, with selections made by the end of April. The 529 program will seek one manager to run three balanced funds with conservative, moderate and aggressive risk profiles. It also will seek managers to run a series of age-based funds and a broad-based passive equity fund. It has not been decided whether stable value and bond funds will be managed internally or outsourced.
