Frederick County, Frederick, Md., is looking for a custodian for all the assets in three funds — the $415.5 million pension fund, an other post-employment benefits fund and a general fund.
The contract, which covers all assets for the funds, is expected to start March 1. It is for two years, with three one-year renewals. Current provider M&T Bank is eligible to rebid, said procurement analyst Karen Diduch.
According to bid documents, the asset allocation for all three investment portfolios has a target allocation of 65% equities and 35% fixed income. There are currently 14 money managers for the pension and OPEB funds. The investment consultant is Bolton Partners Investment Consulting Group.
The RFP is available on the county's website.
Proposals are due at 3 p.m. EST on Jan. 24.
