Spokane (Wash.) Employees’ Retirement System is searching for an investment consultant, said Phillip Tencick, retirement director.
The $290 million pension fund has issued an RFP due to the impending expiration of the contract of current consultant Hyas Group; the firm is invited to rebid. The first task for the new consultant will be an asset allocation study.
Current target allocations are 50% global equity, 15% global fixed income, 14% long/short equity and special opportunities, 10% absolute return, 6% real estate, 4% commodities and 1% cash.
As of Dec. 31, the actual allocation was 51.6% global equity, 13.6% long/short equity and special opportunities, 12.7% global fixed income, 12.6% absolute return, 6.8% real estate, 2% commodities and 0.7% cash.
The RFP is available on the pension fund’s website. Proposals are due at 5 p.m. PDT on June 22. Mr. Tencick said the timeline for a decision depends on the volume of responses to the RFP.