Watertown (Mass.) Contributory Retirement System issued an RFP for custody services for its $185 million investment portfolio.
Fiduciary Investment Advisors, the pension fund's investment consultant, is assisting with the search.
The search is being conducted because the contract with the pension fund's current custodian, State Street, is due to expire, said Richard A. Carey, associate research analyst at FIA. State Street is invited to rebid.
The RFP is available on Fiduciary Investment Advisors' website. Proposals are due 4 p.m. EDT May 14. There is currently no timetable for selection, Mr. Carey said.