Medford (Mass.) Contributory Retirement System is searching for an active emerging markets equity manager to run about $20 million.
The $269 million pension fund issued an RFP due to the requirement by the Massachusetts Public Employee Retirement Administration Commission that services must be put up for bid every seven years, said Mark Minervini, executive director.
Current manager City of London Investment Management is eligible to rebid, Minervini said.
The RFP is available on the website of investment consultant NEPC, which is assisting with the search. Proposals are due by 5 p.m. EDT on Oct. 18. A selection is expected before the end of November.
