Ohio School Employees Retirement System, Columbus, is searching for an active or passive domestic government fixed-income manager to run about $100 million, said Tim Barbour, spokesman.
The $12.4 billion pension fund issued an RFP for a new manager, along with a backup manager, to run an active or passive portfolio benchmarked to the Barclays Capital U.S. Government index. The backup manager “will not be funded nor required to sign an investment management contract,” the RFP said. The backup manager “would be available to provide management of funds and other services above if an investment manager were terminated,” according to the RFP.
Mr. Barbour said the pension fund is seeking an additional fixed-income manager to complement existing strategies because the pension fund is underweight its 19% target to global fixed income. Funding comes from cash. As of Dec. 31, the actual allocation was 16.1%.
Proposals are due at 4 p.m. EDT on March 25. A decision is expected before the end of May.
The RFP is available on the pension fund’s website.
General investment consultant Summit Strategies Group is assisting.