New Mexico Public Employees Retirement Association, Santa Fe, has launched an RFP for a manager to run up to $400 million in a global multistrategy fixed-income portfolio, said Jonathan Grabel, chief investment officer for the $14.5 billion pension fund.
This is a new allocation.
Pension officials would accept a single product or an amalgamation of various investment strategies managed by the proposing firm in a managed account, according to the RFP. Absolute-return strategies will be considered. All strategies must meet the pension plan’s liquidity and risk and return objectives outlined in the RFP, including cumulative returns greater than 200 basis points above and volatility less than the Barclays Global High Yield index.
The RFP is located on the pension fund’s website. Responses are due April 15. Pension plan officials have not yet determined when a selection will be made.
Wilshire Associates, the pension fund's general investment consultant, is assisting.