Missouri State Employees’ Retirement System, Jefferson City, plans to launch a search for a board asset consultant in May, said Candy Smith, spokeswoman, in an e-mail.
The $8 billion pension fund plans to issue an RFP for an additional consultant to strengthen the system’s governance policy and to facilitate an increased level of diligence as the board carries out its fiduciary responsibility for the investment of system assets.
She said the new consultant would be expected to “analyze investment decisions and activity and make recommendations to the board related to investment performance.”
Current investment consultant Summit Strategies Group would continue to advise staff on issues relating to investments, such as the selection and termination of money managers, Ms. Smith said.
Specific details in the RFP, such as a timeline for a decision, as well as how much fiduciary responsibility the board asset consultant will have, are still being developed.
The RFP will be posted on MOSERS’ website.