Concord (Mass.) Contributory Retirement System is searching for a manager to run $7 million to $15 million in an unconstrained, flexible-duration fixed-income strategy.
Fiducient Advisors, investment consultant to the $210 million pension fund, is assisting with the search.
The board is seeking strategies with a positive absolute-return objective in a variety of market conditions and a broad global focus. Core-plus, multisector strategies or hedge funds will not be considered.
The search is being conducted to further diversify the portfolio, said Linda Boucher, retirement administrator. Wellington Management Co. is the plan’s current fixed-income manager, and is welcome to bid.
The RFP is available on Fiducient Advisors' website. Proposals are due by 4 p.m. EDT June 11. Ms. Boucher said a time frame for selecting a manager has not yet been determined.