Waltham (Mass.) Contributory Retirement System is seeking proposals from investment managers to provide either manager-of-managers or outsourced CIO services.
The board is considering making an initial allocation of up to 50% of the pension fund's $200 million investment portfolio. Fiduciary Investment Advisors, investment consultant to the pension fund, is assisting with the search.
This is potentially a new allocation for the board, said Maura Goulart, senior research analyst at Fiduciary Investment Advisors. Joseph Juppe, executive director of the retirement board, said the entire portfolio is currently managed by the $60.7 billion Massachusetts Pension Reserves Investment Management Board, Boston, which has full investment discretion.
The RFP is available on Fiduciary Investment Advisors' website. Proposals are due at 4 p.m. EDT April 15. A selection is expected to be made sometime in late summer.