Searches and Hires

Norwood Contributory wants master trust/custodial services provider

Norwood (Mass.) Contributory Retirement System is on the lookout for master trust and custodial services.

The search is being conducted to comply with state regulatory guidelines, said Debra A. Wilkes, executive director of the $156 million defined benefit plan. State Street Bank & Trust is the incumbent and is invited to rebid.

Meketa Investment Group, investment consultant for the pension fund, is assisting with the search.

The RFP is available on Meketa's website. Proposals are due 3 p.m. EST on Nov. 13. Ms. Wilkes did not know when a final selection will be made, but she said the board and Meketa will work together to select and interview finalists.

The pension fund's current allocation, according to the RFP, is 27% U.S. equities, 14.7% real estate, 12.2% international developed market equity, 11% international emerging market equity, 6.4% infrastructure, 5.8% private equity, 5.1% investment-grade fixed income, 5.1% emerging market debt, 4.5% Treasury inflation-protected securities, 4.5% high-yield fixed income, 3.2% natural resources and the rest in cash.