Haverhill (Mass.) Retirement System issued an RFP for a manager to run about $5 million in active domestic high-yield fixed income, a new asset class for the $145 million pension fund, said Bart Earley, senior investment analyst with consultant Wainwright Investment Counsel. The portfolio will be benchmarked to the Lehman Brothers High-Yield bond index. Plan officials want to diversify, he said. Funding will come from other fixed-income portfolios; no managers will be terminated. The RFP is available on Wainwright's website, www.winvcounsel.com. Proposals are due March 17. Mr. Earley said there is no time frame for final presentations and a selection.
Kathleen Gallant, the plan's administrator, referred all questions to the consultant.