Waltham (Mass.) Contributory Retirement System is searching for a manager to run $6 million in domestic high-yield fixed income, said Joseph Juppe, executive director of the $116 million pension plan. Funding will come from reducing high-quality domestic fixed-income portfolios, which are overweighted, said Mathew Seney, analyst for consultant Wainwright Investment Counsel.
Proposals are being accepted through March 28 via Wainwrights website, www.winvcounsel.com.
The plans asset allocation is 42.8% domestic equity, 10.6% international equity, 31.9% domestic fixed income, 4.9% international fixed income, 4.7% real estate, 3.3% venture capital and 1.8% cash.