Chicago Metropolitan Water Reclamation District Retirement Fund is searching for a global low-volatility equity manager to run about $75 million.
The $1.4 billion pension fund issued an RFP for a manager to provide further diversification for the pension fund’s equity portfolio, said James Mohler, executive director. Funding will come from reductions in the pension fund’s international equity portfolio.
The relative performance benchmark for the portfolio will be the MSCI ACWI Minimum Volatility index or the S&P Global Low Volatility index, according to the RFP.
The funding source for the portfolio was unavailable.
As of Sept. 30, the actual allocations to domestic equities and international equities were 40.2% and 21.5%, respectively.
The RFP is available on the pension fund's website. Proposals are due at 3 p.m. CST on Wednesday, March 3. A timeline for a selection has yet to be determined.
Investment consultant Marquette Associates is assisting.
James Mohler, executive director, could not be immediately reached for further information.