Oklahoma Tobacco Settlement Endowment Trust, Oklahoma City, is searching for its first global tactical asset allocation managers to run at total of $60 million to $70 million, confirmed Lisa Murray, chief investment officer at the Oklahoma state treasurer's office, which oversees the trust.
More than one manager could be hired. The $833 million trust recently approved a 5% to 8% allocation to GTAA that is part of its overall 16% allocation to alternatives. Funding is coming from rebalancing out of fixed income, Ms. Murray said. No managers will be terminated.
Investment consultant NEPC is assisting.
The RFP is available on NEPC's website. Proposals are due Dec. 11. A hiring decision is expected around Feb. 14.