Jacksonville (Fla.) Police & Fire Pension Fund will launch a search for an investment consultant on July 31, said Timothy H. Johnson, executive director, in an email.
The $2.1 billion pension fund will issue an RFP on July 31 due to the pending expiration of the contract of interim investment consultant Wilshire Associates; the firm is invited to rebid, Mr. Johnson said.
Wilshire Associates had been hired in September 2018 following an invitation-only request for information sent to Wilshire, Fund Evaluation Group and AndCo Consulting. That RFI was sent to the firms following the announcement that the public pension fund business of Summit Strategies Group, the consultant at the time, was being sold to AndCo Consulting.
The one-year contract ending Oct. 31, 2019, was intended to be an interim solution, a board meeting summary posted on the fund's website said at the time.
As of June 30, the actual allocation was 43.5% domestic equities, 20.1% international equities, 16.7% core-plus fixed income, 11% real estate, 4.5% core fixed income, 4% master limited partnerships and 0.2% cash.
The RFP will be posted on July 31 on the pension fund's website. Proposals will be due on Aug. 28. A timeline for finalist interviews and selection has yet to be determined.