Searches and Hires

Thrift Savings Plan looking for passive manager to run $28 billion fixed-income fund

Federal Retirement Thrift Investment Board, Washington, is searching for a passive fixed-income manager for its Thrift Savings Plan, said spokeswoman Kim Weaver in an email.

The selected firm will manage the F Fund, the plan's $28.2 billion fixed-income index fund.

The contract of the current manager, BlackRock (BLK), expires soon. BlackRock is invited to rebid, Ms. Weaver said.

The F Fund, which tracks the Bloomberg Barclays Capital U.S. Aggregate Bond index, represents 5.3% of the thrift plan's $528.4 billion in total assets.

The TSP has a total of five core investment options, four of which are passively managed by BlackRock.

The RFP is available on a federal government procurement website.

Proposals are due by 4 p.m. EST on Dec. 11. A hiring decision is expected by March.