Colorado’s Public School Fund Investment Board, Denver, is seeking high-yield fixed-income and preferred securities investment managers for the state’s $1.1 billion School Trust endowment. Allocation amounts have not yet been determined.
Callan, investment consultant to the investment board, is assisting with the search.
Only proposals for open-end mutual funds will be considered for the preferred securities search.
The searches are being conducted to further diversify the fund with new strategies, Public School Fund portfolio administrator Kristen Wiley said in an email. There are no incumbent managers. Funding will come from cash.
The RFPs are available on Callan's website. Proposals are due by 4 p.m. MDT on April 29. Selections are expected to be made in May.