Monroe, Conn., is searching for an investment consultant for its $20 million pension fund, said Arthur J. Meizner, director, investment consulting services, at Hooker & Holcombe Investment Advisors, “oversight adviser” to the pension fund that is assisting with the search.
The selected firm might also provide custodial banking services.
Incumbents Prudential Financial and UBS Financial Services are invited to rebid.
Hooker & Holcombe Investment Advisors is expected to stay on as the pension fund's oversight adviser after the primary investment consultant is selected, the RFP said.
The RFP is available on the city's website. Proposals are due by 2 p.m. CDT on Sept. 5. A hiring decision is expected by the end of September.
The pension fund's asset allocation is 32% core fixed income, 31% domestic large-cap equity, 15% international equity, 6% domestic small-cap equity, 5% each private placement and cash/currency, 3% high-yield fixed income, 2% domestic midcap equity and 1% public REITs. The plan primarily invests in collective investment trusts, according to the RFP.
