Plymouth (Mass.) Retirement System is looking to allocate between $28 million and $35 million to a core fixed-income strategy.
The board may select more than one manager. Proposed strategies must be long only. Core-plus strategies will not be considered.
DiMeo Schneider & Associates, investment consultant to the $213 million defined benefit plan, is assisting with the search.
The plan has a 22% allocation to fixed income and cash, according to its website. The search is being conducted to comply with state regulations, said Wendy Cherry, retirement system director. The incumbent is Wellington Management Co. and the firm is welcome to rebid.
The RFP is scheduled to be available on DiMeo Schneider's website. Proposals are due 4 p.m. EDT on March 23. A selection date has not been determined.