Lexington (Mass.) Retirement System is issuing RFPs for a manager to run $6 million to $8 million in high yield, with a small amount of emerging markets flexibility, and a TIPS manager to run $2 million, said John Haggerty of Meketa, consultant for the $75 million pension plan. Partial funding may come from reducing a $33 million active domestic core fixed-income portfolio managed by Wellington Management, but funding sources have not been finalized. Terminations are not expected, Mr. Haggerty said. Instructions for obtaining copies of both RFPs are available at www.mppf.org, he said. Proposals are due June 13.
The plans asset allocation is 47% equities, 44% fixed income and 9% cash.