Dunmore, Pa., is searching for an investment consultant for its three pension funds.
The borough issued an RFP for a consultant for its police, fire and non-uniform pension funds because it wants to explore available options, said Vito P. Ruggiero, municipal administrator/secretary, in an email.
Morgan Stanley is the current consultant and is invited to rebid, Mr. Ruggiero said.
The three pension funds have a total of $17 million in assets in a common investment pool.
As of Feb. 28, the actual allocation was 39.4% domestic equities, 18.8% domestic fixed income, 13.3% alternatives, 9.8% cash, 9.4% international equities, 5.6% emerging and frontier markets equities, 1.9% inflation-linked fixed income and the rest in emerging markets debt.
The RFP is available on the borough's website. Proposals are due May 30. A selection is expected in June, Mr. Ruggiero said.
