Chicago Municipal Employees' Annuity & Benefit Fund will begin a search in January for one or two active domestic core fixed-income managers to run about $100 million, said Steve Yoon, investment analyst.
The $4.3 billion pension fund will issue an RFP likely in the first week of January for due diligence purposes in an effort to see if it can add value to its overall portfolio, Mr. Yoon said. Neuberger Berman, which runs $68 million, and UBS Asset Management, which runs $52 million, will be invited to rebid.
Mr. Yoon said the overall portfolio size could change and MEABF could hire one or two managers. The pension fund hopes to make a decision in April.
The RFP will be posted on the pension fund's website.
Investment consultant Marquette Associates is assisting.