Belmont (Mass.) Contributory Retirement System is searching for a global asset allocation manager to initially run up to $9.5 million.
NEPC, investment consultant to the $99 million defined benefit plan, is assisting with the search.
The search is being conducted because state regulations require contracts to go out to bid every seven years, said Robert Soohoo, executive director of the pension fund. Incumbent Pacific Investment Management Co. is invited to rebid.
Only pooled investment vehicles will be considered. Proposed strategies must have at least $500 million in global asset allocation assets under management and a minimum track record of five years.
The RFP is available on NEPC's website. Proposals are due by 4 p.m. EDT Oct. 9. A selection date has not been established.