Iowa Municipal Fire & Police Retirement System, Urbandale, is searching for a global tactical fixed-income manager to run about $50 million, said Dennis L. Jacobs, executive director and CIO for the $1.4 billion fund. The board is seeking to diversify opportunities by moving to a new fixed-income strategy, he said. Funding will come from money temporarily invested in core fixed income with BlackRock after GoldenTree Asset Management ended its long-only high-yield management strategy.
Managers can contact Mr. Jacobs to obtain the RFP. Summit Strategies, the system's consultant, also issued RFPs to a shortlist of managers, but the system will also consider other managers that respond to the RFP. Proposals are due Nov. 30. The system's board hopes to make a selection in January.