Florida Prepaid College Board, Tallahassee, hired nine money managers for a pool of potential commingled investment products for the $13.6 billion Stanley G. Tate Florida Prepaid College Program, $600 million Florida 529 Savings Plan, $20 million Florida Prepaid Tuition Scholarship Program and $12 million Florida ABLE Savings Program.
A letter of intent to award posted on the board's website names the managers as American Century Investments, BlackRock, Calvert Research and Management, Dimensional Fund Advisors, Dreyfus (Mellon Investments), Eaton Vance, New York Life Investment Management, Nuveen and Vanguard Group.
The board, according to an invitation to negotiate posted on the state of Florida's purchasing website in May, sought money managers to provide access to active and passive commingled products "as each program may need from time to time." The ITN was for access to commingled products and "no funds are guaranteed under this procurement," the ITN said at the time.
Investment consultant Aon Hewitt Investment Consulting assisted.
Bert Wilkerson, director of finance, accounting and risk management, could not be immediately reached to provide further information.