Santa Monica, Calif., is searching for an investment manager for its Cemetery Perpetual Care and Mausoleum Perpetual Care Funds, according to an RFP posted on procurement website PlanetBids.
RNC Genter Capital Management is the current manager for the two funds, which have a combined $10.8 million in assets. It could not be learned by press time whether the firm can rebid.
A maximum of 60% of the funds may be invested in equities; the remainder is in fixed income.
The funds have a socially responsible investment policy; proposals should include strategies that meet the SRI criteria, according to the RFP.
The RFP is available on PlanetBids. Proposals are due at 5 p.m. PST Feb. 7. A hiring date was not specified.
Dave Carr, assistant city treasurer, could not be reached for additional information by press time.