Medford (Mass.) Contributory Retirement System is searching for a core fixed-income manager to run about $25 million.
The $240 million pension fund is seeking proposals from managers of core fixed-income strategies that have at least $500 million in assets under management, according to an RFP posted on the website of investment consultant NEPC, which is assisting with the search.
The RFP does not disclose the reason for the search, the name of the current manager or whether the firm is eligible to rebid.
Municipal pension funds in Massachusetts typically put services up for bid to comply with Massachusetts Public Employee Retirement Administration Commission requirements that services must be put up for bid every seven years. The pension fund last issued an RFP for a core fixed-income manager in 2017.
The RFP is available on NEPC’s website. Proposals are due by 2 p.m. EDT on June 21. A timeline for a selection was not provided.
Mark Minervini, the pension fund’s executive director, could not be immediately reached for further information.
