Franklin (Tenn.) Employees' Pension Fund is searching for international and domestic fixed-income managers to run a total of $12 million, confirmed Steven Roth, director of manager research at Dahab Associates, the $60 million pension fund's investment consultant.
The pension fund has issued two RFPs, one for international core, hedge or unhedged fixed income and one for domestic core-plus fixed income, for potential additional diversification, according to Mr. Roth.
The pension fund is accepting bids from both active and passive managers. The current allocation is all passive domestic fixed income. The pension fund has yet to determine how the allocation will be split in the future. No managers will be terminated, said Mr. Roth.
Shirley K. Harmon, human resources director for the city of Franklin, did not return a phone call by press time.