Chicago Metropolitan Water Reclamation District Retirement Fund will launch a search for an investment consultant by the end of March.
The $1.4 billion pension fund will issue an RFP during the first quarter due to an Illinois statute that requires it to put the services up for bid every five years, said Brian Gillespie, investment officer.
The current consultant is Marquette Associates, which will be invited to rebid, said Gillespie.
A specific timeline for the search has yet to be determined. The pension fund traditionally posts RFPs on its website.
As of Sept. 30, the pension fund's actual allocation was 37.9% domestic equities, 26.5% fixed income, 20% international equities, 9.4% real estate, 5% global low volatility and the rest in cash composite.
The target allocation is 38% domestic equities, 27% fixed income, 20% international equities, 10% real estate and 5% global low volatility.
