Workplace Health, Safety and Compensation Commission, St. John’s, Newfoundland and Labrador, is searching for an investment consultant to help the C$1 billion ($796 million) workers’ compensation plan choose an outsourced CIO provider.
The consultant would work under a six-month contract, with an option by the commission to retain the firm for an additional six months.
According to the commission’s latest annual report, as of Dec. 31, 2013, two Canadian equity managers handle a combined 30% of assets; two Canadian fixed-income managers run a combined 30% assets; a global equity manager of managers manages 30%; and a Canadian real estate investment manager, 10%. The names of the managers could not be learned by press time.
The plan was 106% funded as of Dec. 31, 2013, according to the annual report.
The RFP is on the commission’s website.
Proposals are due at 2 p.m. Newfoundland Daylight Time April 27. A selection is tentatively scheduled for May 6.
Officials at the commission could not be reached for details.