Searches and Hires

Webster Contributory Retirement reissues multisector fixed-income RFP

Webster (Mass.) Contributory Retirement System is reissuing an RFP seeking investment managers to run up to 23% of its $37 million defined benefit plan, or about $9 million, in a multisector fixed-income strategy.

Firms that originally submitted bids to the RFP issued in November must resubmit a bid to be considered.

The actual amount to be allocated will be determined as a percentage of the portfolio. Only commingled vehicles will be considered. Preference will be given to vehicles that use a "flexible" mandate and include allocations to high-yield corporate bonds and foreign bonds. Unconstrained strategies will be considered; vehicles that hedge or have short exposure will not.

Wainwright Investment Counsel is assisting with the search.

The RFP will be available on Wainwright's website. Registration is required. Proposals are due by 2 p.m. EST on Jan. 29. A selection date was not disclosed.

Kristin LaPlante, pension board administrator, and Jeff Fabrizio, director of research at Wainwright, could not be immediately reached for comment.