Illinois Student Assistance Commission, Springfield, is searching for an active core-plus fixed-income manager to run about $70 million for the $1.1 billion College Illinois Trust Fund, the state's prepaid tuition program, according to an RFP posted on the Illinois Procurement Bulletin website.
The selected manager will run about 35% of the tuition plan's fixed-income allocation, which is currently at 20% with a long-term target allocation of 25%. The strategy will seek to outperform the Barclays Capital U.S. Aggregate Bond index. Funding will come from existing active core fixed-income portfolios.
The RFP is available on the Illinois Procurement Bulletin website. Proposals are due at 2 p.m. CST Feb. 8. A hiring decision is expected on April 8.
Spokesman John Samuels did not return a telephone call by press time for additional information.
