Iowa Public Employees’ Retirement System, Des Moines, issued an RFP for managers to invest a total of $600 million in Treasury inflation-protected securities for the $19.7 billion system.
The RFP, which is available at www.ipers.org, says more than one manager could be hired for the allocation. Managers would invest at least 70% of the portfolio in U.S. TIPS and outperform a predetermined benchmark through active or passive strategies, according to the RFP.
The funding source wasn’t immediately available.
Proposals are due Feb. 22. The IPERS investment board is scheduled to make a decision June 24, the RFP stated.
Wilshire Associates is assisting.