Mendocino County Employees’ Retirement Association, Ukiah, Calif., is searching for a firm to provide global custody and securities lending services, said James Wilbanks, retirement administrator.
The $445 million pension fund now has no custodian and no securities lending program. Interested firms can apply for both services or custody only.
The RFP is available on the county’s website. Proposals are due at 3:30 p.m. PDT July 17. Finalist presentations are tentatively scheduled for the Aug. 19 board meeting, and a decision is anticipated the same day.
The association also expects to launch a search for an investment consultant in the fall for due diligence reasons. Callan Associates, the incumbent consultant, is invited to rebid.
Once approved, the RFP will be posted on the pension fund’s website. A hiring decision is anticipated by the end of the calendar year, followed by an asset allocation review.