Alberta Public Service Pension Plan, Edmonton, issued an RFP for an investment consultant for the C$13.4 billion ($10.4 billion) plan.
The selected consultant will advise the plan board's investment committee on investment policy, educate the committee on investment-related topics and monitor the performance of the Alberta Investment Management Corp., Edmonton, which manages $95.7 billion in assets, including the pension plan's assets.
The contract will be for one year effective Jan. 1, 2019, with up to five one-year extensions at the board's discretion.
Aon Hewitt Investment Consulting, the pension plan's current consultant, can rebid, said Lynette Martin, plan director.
The pension plan's target allocation is 55% equities, 24% alternatives, 20.5% fixed income and 0.5% money market funds, according to the plan's latest investment performance report. Its actual allocation as of Sept. 30 was 57% equities, 22% fixed income, 19% alternatives, and 1% each money market funds and cash.
The RFP is available on the website of the Alberta Purchasing Connection, the province's public procurement site. Proposals are due at 3 p.m. MDT on April 10. A selection date has not been set, Ms. Martin said, but the plan's board will begin deliberations on a selection immediately following finalist presentations scheduled for May 16.
