Massachusetts College of Liberal Arts Foundation Inc., North Adams, Mass., is searching for an investment manager for its $14 million endowment.
The foundation issued an RFP due to its bylaws that require the services be put up for bid every five years, said Robert P. Ziomek, foundation president and the college's vice president of institutional advancement, in an email.
Current manager MountainOne Investments is eligible to rebid, Mr. Ziomek said.
The endowment's target allocation is 70% equities (with an allowable range of 50% to 75%) and 30% fixed income (with an allowable range of 25% to 50%, with up to 10% in lower-quality bonds permitted.)
The RFP is available on the college's website. Proposals are due at 4:30 p.m. EST on Dec. 23. Finalist presentations will begin in February, with a selection to be made shortly thereafter.