CalPERS is searching for a multistrategy index fund manager to run a total of up to $5.7 billion from several of the system's trust funds, according to an RFP on the $225.7 billion system's website.
This is a new search, stated spokesman Brad Pacheco, in an e-mail. The search is part of CalPERS' decision in September to search for strategic partners to manage a multiasset class portfolio and provide insights and analytics on asset allocation and portfolio construction decisions.
California Public Employees' Retirement System officials seek “low-cost index fund products” for several of its trust funds, including the $902.3 million Supplemental Income 457 Plan, $462.9 million State Peace Officers' & Firefighters' Supplemental Plan and $18.5 million Supplemental Contributions Plan, according to the RFP.
Asset classes include domestic bonds, domestic large-cap and smidcap equity, global equity and global public real estate.
System officials are also searching for an asset allocation fund consisting of U.S. inflation-linked bonds, U.S. nominal bonds, global equity, global public real estate and commodities. Total assets in these asset classes was $5.7 billion as of June 30.
The RFP can be found on CalPERS' website, www.calpers.ca.gov.
Responses to the RFP are due by 3 p.m. PST Dec. 14. Finalists are tentatively scheduled to be chosen in January, but a selection date has not been set. Further details could not be obtained by press time.