Haverhill (Mass.) Contributory Retirement System is searching for an investment manager for the plan's $210 million investment portfolio, said a notice posted on the Massachusetts Public Employee Retirement Administration Commission website.
Interested consultants must handle accounts between $50 million and $250 million as separately invested balanced portfolios, not commingled funds. Wainwright Investment Counsel is the incumbent and can rebid, said David Van Dam, system administrator. The search is being conducted because Wainwright's contract is expiring, he said.
The RFP can be obtained beginning Sept. 24 by contacting Mr. Van Dam via email. Proposals are due by 4 p.m. EDT on Oct. 15. A hiring decision is expected by the end of December.
Data from PERAC show that as of Dec. 31, 2016 — the most recent data available — the system's allocation was 28.3% U.S. equities, 19.5% fixed income, 17.6% international equities, 10.7% real estate, 10.6% hedge funds, 7.4% timber/natural resources, 4.6% private equity and 1.3% cash/overlay.