Louisiana Firefighters' Retirement System, Baton Rouge, will launch a search for a multisector fixed-income manager by the end of June.
The $2.1 billion pension fund's board approved the search at its May 11 meeting, a webcast of the meeting showed. The reason for the search and the portfolio size were not discussed in the webcast.
According to the draft RFP shown in the webcast, the pension fund will issue the RFP sometime between May 22 and June 23, with a proposal due date of July 7, finalists scheduled to be announced Sept. 14, and finalist presentations to take place Nov. 8 or Nov. 9. A selection date was not provided.
As of April 30, the pension fund's actual allocation to fixed income was 25.5%; the target is 26%. According to its most recent investment report, the pension fund does not have any assets assigned specifically to multisector fixed income.
Michael Becker, chief investment officer, could not be immediately reached for further information.