Kansas Public Employees Retirement System, Topeka, is searching for a firm to provide currency overlay management services covering about $1.8 billion in international developed markets currency exposure, said spokeswoman Kristen Basso in an e-mail.
The $16 billion pension fund has a total of $3.6 billion in international developed markets equities and is searching for a firm to complement Insight Pareto, whose $1 billion currency overlay program is being expanded to approximately $1.8 billion.
Currency hedging is limited to the pension fund’s developed markets portfolios.
Investment consultant Pension Consulting Alliance is assisting with the search.
The RFP is available on the pension fund’s website. Proposals are due at noon CDT on Aug. 3. The pension fund hopes to select a finalist in November with a hiring decision before the end of 2015.