Burlington (Vt.) Employees' Retirement System is searching for an active domestic core fixed-income manager to run up to $37 million.
The $194 million pension fund issued an RFP because it wishes to change all or part of its core fixed-income portfolio to an active strategy from passive, said Kevin Condy, research analyst at Dahab Associates, the pension fund's investment consultant.
The current manager, Mellon Capital Management, is currently running a passive portfolio. The manager is invited to bid for the active services.
The RFP is available on Dahab Associates' website. Proposals are due at 5 p.m. EST on Jan. 24. A timetable for a decision has yet to be determined.
Dahab is assisting with the search.
