Montana Board of Investments, Helena, hired R.V. Kuhns as the board's first full-time investment consultant, subject to contract finalization, said Carroll South, executive director. There was a "strong feeling" among board members that they could use regular input from an investment consultant, Mr. South said. The board, which invests about $6.5 billion in pension assets and $10.5 billion overall, issued an RFP in August following a one-time operational review by Independent Fiduciary Services.
The board wanted a firm to provide consulting services and also perform an asset-liability study of the state's pension funds, according to the RFP. Information on an upcoming study wasn't immediately available.