Iowa Public Employees' Retirement System, Des Moines, has issued an RFP seeking absolute-return strategies. The pension plan intends to hire several managers. There is currently no target allocation amount for the strategy, said Shawna Lode, spokeswoman for the $42.9 billion state plan. The amount ultimately allocated will depend on the number of strategies submitted and selected.
Proposed strategies must have at least $1 billion in assets under management as of June 30, according to the RFP, which is on IPERS' website.
Proposals are due by 4:30 p.m. CDT on Oct. 7. A selection date was not disclosed.