Natick Contributory Retirement seeks manager of managers or outsourced CIO

Natick (Mass.) Contributory Retirement System is looking for either a manager of managers or an outsourced CIO manager.

The pension fund currently has about $100 million of its $130 million in such a program, with the remaining assets invested through the Massachusetts Pension Reserves Investment Trust. The board is considering allocating between the current level ($100 million) and the total portfolio ($130 million).

Fiduciary Investment Advisors, investment consultant to the retirement system, is assisting with the search. The search is being done to comply with Massachusetts law requiring retirement boards to issue formal RFPs for investment mandates every seven years, said Maura K. Goulart, director of client services at Fiduciary Investment Advisors.

SEI is the current investment manager and will be submitting a proposal to rebid for services.

The RFP is available on Fiduciary Investment Advisors' website. Proposals are due by 4 p.m. EDT Aug. 14. A decision is expected before the end of the year, Ms. Goulart said.