Worcester (Mass.) Retirement System is looking for a manager to run a total of $100 million in a TIPS and investment-grade bonds strategy, according to an RFP posted on the website of Meketa Investment Group, the $717 million pension fund's investment consultant.
Of the $100 million, the pension fund's board intends to allocate about $55 million to investment-grade bonds and the remainder to Treasury inflation-protected securities. Stephen MacLellan, investment analyst at Meketa, declined to comment on the reason for the search or the funding source.
Managers under consideration must have a minimum of $1 billion under management and a minimum of $250 million under management combined in TIPS and investment-grade bond strategies.
The RFP can be found on Meketa's website. Proposals may be sent by mail to Elizabeth Early, Executive Secretary, Worcester Retirement System, 455 Main St., Room 103, Worcester, MA 01608; or by e-mail to r[email protected] with “Code: NV5” as the e-mail subject line.
Proposals are due at 4 p.m. EDT Oct. 1. A hiring date was not specified.