Searches and Hires

Bristol County seeks global diversified high-yield, global sovereign fixed-income

Bristol County Retirement System, Taunton, Mass., is searching for a global diversified high-yield fixed-income manager or managers to run about $55 million and a global sovereign fixed-income manager or managers to run about $25 million.

The search is being conducted to comply with state law, which requires contracts be put out for bid every few years, said Roxanne L. Donovan, executive director of the $675 million pension fund. Colchester Global Investors and Pacific Investment Management Co. are the incumbent managers and are invited to rebid.

The board might select more than one manager for each mandate. Investment consultant Segal Marco Advisors is assisting with the search.

The RFPs are available on Segal Marco Advisors' website. Proposals for both searches are due at 3 p.m. EDT on Aug. 29. Selections may be made in November, said Ms. Donovan.

As of Dec. 31, 2016, the plan had allocations of 14.8% to value-added high-yield fixed income and 13% to fixed income, according to its most recent annual report.