Maryland College Savings Plans, Baltimore, hired Marquette Associates as investment consultant, said a hiring notice on the state treasurer’s website.
The plans consist of the Maryland Prepaid College Trust, which is managed internally, and the Maryland College Investment Plan, for which T. Rowe Price Associates is the administrator. Total assets exceed $4.5 billion. The Maryland College Investment Plan, which has 15 investment options, had $4 billion as of Jan. 31, according to the RFP.
The investment consultant advises the board on investment policies and assists in selection of investment managers.
The search was conducted because the contract of investment consultant Wilshire Associates expired June 30.
The three-year contract runs July 1 through June 30, 2019, with two, one-year renewal options.