New Mexico State Investment Council, Santa Fe, is searching for active short-duration high-yield managers to run a total of $300 million, said Charles Wollmann, council spokesman, in an email.
The $23 billion endowment issued an RFP due to the restructuring of its fixed-income asset class, which was approved by the council in September following an asset-liability study, Mr. Wollmann said. The new fixed-income structure splits the council's fixed-income allocation into core and non-core targets and within the core target, created a new target to short-duration high yield. Funding will come from reductions of current core fixed-income managers as a result of those changes. No managers will be terminated.
The RFP is available on the council's website. Proposals are due at 5 p.m. MST on Nov. 22. A decision is expected by Feb. 27.
Investment consultant RVK is assisting.
