Stoneham (Mass.) Contributory Retirement System is searching for a manager of managers and/or a global multiasset allocation manager to run up to $37.5 million, said Maura Goulart, senior research analyst at Fiduciary Investment Advisors, the $75 million pension fund’s investment consultant.
The $75 million pension fund is considering allocating up to 50% of its assets to either or both strategies. Currently, all assets are invested in the Massachusetts Pension Reserves Investment Trust, which is overseen by the $60.7 billion Massachusetts Pension Reserves Investment Management Board, Boston, Ms. Goulart said in an e-mail.
Ms. Goulart added that the pension fund’s board has yet to make a final decision on reducing assets in the PRIT fund and the board is simply seeking further information on established manager-of-managers platforms and asset allocation strategies.
The RFP is available on FIA’s website. Proposals are due at 4 p.m. EDT on Oct. 30. The board will evaluate proposals in December or January and a timetable for a decision has yet to be determined, Ms. Goulart said.
A phone call to Karen DeAngelis, retirement administrator for the pension fund, was not returned by press time.