Woburn (Mass.) Contributory Retirement System issued an RFP for a manager to run $4.8 million in active domestic high-yield fixed income, according to a source at plan consultant Wainwright Investment Counsel who asked not to be named The $94 million pension fund has the money in a high-yield mutual fund, but plan officials are considering replacing the manager for organizational reasons; further information was not available by press time. According to the Money Market Directory, the fund's fixed-income managers are Babson Capital Management and Wellington Management.
The RFP is available on Wainwright's website at www.winvcounsel.com. Proposals are due at noon EDT Aug. 29. The source said finalists will likely be named in September; there is no timetable for presentations or a selection.
Maureen Marcucci, Woburn retirement administrator, referred all questions to Wainwright.