Watertown (Mass.) Contributory Retirement System is searching for managers to run $20 million in active domestic core fixed income, $12 million in active domestic large-cap core equities and $15 million to $17 million in active international core equities, said Barbara Sheehan, director of the $123 million pension fund.
The pension fund issued the RFPs because of a state law that requires services be put up for bid every five years.
The current core fixed-income manager is Income Research and Management, which runs $19 million; the current large-cap core equity manager is Fisher Investments, which runs $12 million; and the current international core equity managers are EARNEST Partners and MFS Investment Management, which run a combined $16 million, said Maura K. Goulart, senior research analyst at the pension fund's investment consultant, Fiduciary Investment Advisors. All managers are invited to rebid.
The fixed-income RFP, the large-cap equity RFP and the international equity RFP all can be found on Fiduciary Investment Advisors' website.
All proposals are due at noon EDT on May 23. The board and FIA hope to finalize decisions by the middle of the fourth quarter, according to Ms. Goulart.