Natick (Mass.) Contributory Retirement System is searching for a manager of managers or outsourced chief investment officer firm to oversee a portfolio of between $150 million and $200 million in assets.
The $255 million pension fund currently has $175 million invested in that portfolio, according to an RFP posted on the website of investment consultant Fiducient Advisors, which is assisting with the search.
The RFP does not disclose the reason for the search, but municipal pension funds in Massachusetts typically conduct searches to comply with the requirement by the Massachusetts Public Employee Retirement Administration Commission that pension funds put services up for bid every seven years.
The last time the pension fund issued an RFP for the services was 2017. Officials at the pension fund could not be immediately reached for further information.
The RFP is available on Fiducient Advisors’ website. Proposals are due at 4 p.m. EST on Jan. 10. A timeline for a selection was not provided.
