Oklahoma Public Employees Retirement System, Oklahoma City, is searching for a global custodian that will provide securities lending services, confirmed Tom Spencer, executive director.
Incumbent Northern Trust may rebid. Its contract expires June 30. Northern Trust has served as custodian since 1999.
The custodian will serve the $8 billion Oklahoma PERS and $275 million Uniform Retirement System for Justices and Judges, which is administered by OPERS.
The RFP is available on the pension fund’s website. Proposals are due at 5 p.m. CST March 6. A hiring decision is expected at the pension fund’s April 17 or May 15 meeting.
Consultant Strategic Investment Solutions is assisting.
Separately, the pension fund returned 16.6% for calendar year 2013, surpassing its policy benchmark by 135 basis points.