Chelsea (Mass.) Retirement System issued RFPs for a core and a core-plus domestic fixed-income manager to run $5 million each.
The $40 million plan wants to reinvest the $10 million it currently has with an unidentified mutual fund, said Bill Monagle, vice president at consultant Wellesley Group. Proposals are due by June 29; a decision is expected by August.
The plan also hired Harbor Capital and Nicholas-Applegate to manage $2.75 million each in active EAFE portfolios. Funding came from the systems $5.5 million investment in the Putnam European fund, which was dropped because the plan wanted a broader geographical exposure, Mr. Monagle said.