Fairbanks, Alaska, is searching for a firm to provide investment management services for its $120 million permanent fund, said an RFP on the city's website.
The contract of incumbent manager Alaska Permanent Capital Management Co. expired on Dec. 31 but will remain in effect until Dec. 31, 2016. It could not immediately be learned whether the firm is invited to rebid. Alaska Permanent Capital manages the entire portfolio.
The RFP is available on the city's website.
Proposals are due by 2 p.m. Alaska time on June 23. A timeline for a hiring decision could not immediately be learned.
As of March 31, the fund's asset allocation was 48% equities, 47% fixed income and the remainder in cash.
Inquiries to the city's finance department were referred to a purchasing official who could not immediately be reached for additional information.
