Falmouth (Mass.) Retirement System is searching for investment managers to run U.S. passive core bond and high-yield fixed-income strategies.
The manager chosen to run the U.S. passive core account will run up to 15% of the $150 million defined benefit plan, or about $22 million, and the high-yield firm will manage up to 2%, or roughly $3 million. The actual amounts to be allocated will be determined as a percentage of the portfolio.
Only commingled vehicles will be considered for both searches.
Wainwright Investment Council, investment consultant to the plan, is assisting with the search.
The RPFs are available on Wainwright's website. Registration is required. Proposals for both searches are due at 2 p.m. EST Dec. 6. Selection dates were not disclosed.
Francis St. Germaine, pension fund administrator, and Jeff Fabrizio, director of research at Wainwright, did not immediately respond to requests for comment.
