National Employment Savings Trust Corp., London, the U.K.'s new national defined contribution plan, issued RFPs for managers to run five investment strategies to be used primarily as default investment options — passive global equity, passive U.K. government bonds, passive index-linked bonds, cash and diversified beta, according to NEST spokeswoman Heather Tilston. The diversified beta strategy would be a multiasset portfolio that could include U.K. investment-grade corporate bonds, overseas government and corporate bonds, private equity, commodities and infrastructure. “These mandates are the building blocks to deliver NEST's investment strategy,” Ms. Tilston said in an e-mailed response to questions. “In particular, they will form the basis for the target-date funds that will make up the default fund offering.” NEST is scheduled to be launched in 2012. Proposals are due Nov. 19. Further information can be obtained from consultant Aon Hewitt.
Belmont (Mass.) Town Contributory Retirement System is searching for a manager to run $6 million in liquid real assets, according to an RFP from the $60 million retirement system. Strategies with exposure to TIPS, commodities and REITs are preferred but not required. Real estate funds will not be considered. The RFP is available on the website of the Massachusetts Public Employee Retirement Administration Commission at http://www.mass.gov/ perac/new.htm. Proposals are due by 4 p.m. EST Nov. 19 and must be sent to the system's consultant, NEPC, 1 Main St., Cambridge, MA 02142 or by e-mail to [email protected] Marion Cote, the system's retirement administrator, directed questions to Douglas Moseley, a partner with NEPC. He could not be reached for comment.
City of Edinburgh Council Lothian Pension Fund is searching for an actuary, confirmed Pamela Bruce, spokeswoman for the £3.2 billion ($5.1 billion) fund. Incumbent Hymans Robertson can rebid; its contract expires March 31. Proposals are due Nov. 29. Further information is available at http://www.publiccontractsscotland.gov.uk/Search/show/Search_View.aspx?ID=OCT083459.
New Mexico State Investment Council, Santa Fe, is searching for an active core-plus fixed-income manager to run up to $2 billion, according to an RFP posted on the $14.1 billion council's website. The portfolio will include exposure to U.S. Treasuries, asset-backed securities, mortgage-backed securities and TIPS, according to the RFP. “This core exposure would opportunistically be complemented by exposure to high-yield bonds, bank loans, convertible bonds and other U.S. dollar-denominated fixed-income securities,” the RFP states. Funding will come from the council's internally managed fixed-income portfolio, Charles Wollman, council spokesman, said in a telephone interview. The RFP is available at http://www.sic.state.nm.us/ PDF%20files/NMSIC%20Core-Plus%20RFP%2011-02-10.pdf. Proposals are due by 8:30 a.m. MST Nov. 30. Proposals must be sent to New Mexico State Investment Office, 41 Plaza La Prensa, Santa Fe, NM 87507, and by e-mail to [email protected] and [email protected]
Texas Employees Retirement System, Austin, is searching for a hedge fund consultant to help establish an absolute-return hedge fund program for the $21 billion system, according to an RFP on the state's procurement website. The successful candidate will report directly to the board of trustees and the system's investment staff. The RFP is available at http://esbd.cpa.state.tx.us/docs/327/91797_1.pdf. Proposals are due by 4 p.m. CST Nov. 30. Candidates must send one copy of the proposal to [email protected] and five copies to Employees Retirement System of Texas, 200 E. 18th St., Austin, TX 78701 or P.O. Box 13207, Austin, TX 78711-3207. System spokeswoman Mary Jane Wardlow could not immediately be reached for comment.
Brockton (Mass.) Contributory Retirement System is searching for a real estate manager to run $5 million, according to an RFP posted on the website of the Massachusetts Public Employee Retirement Administration Commission. Interested managers must offer a minimum real estate target fund of at least $100 million, which must be open until at least March 11, 2011. They also must have at least two prior real estate funds and at least five people on their investment staffs. Harold P. Hanna, executive director of the $305 million system, said in a telephone interview that the investment could be funded from the system's fixed-income or equity allocations. Requests for RFPs and responses must be directed to Johnny Yong, portfolio analyst at consultant NEPC, 1 Main St., Cambridge, MA 02142 or by e-mail at [email protected] Proposals are due by 4 p.m. EST Dec. 1.
