Orlando, Fla., is searching for an investment consultant for its three pension funds, said Michele Keane, the city's pension coordinator.
The contract of current consultant NEPC is expiring on Sept. 30, Ms. Keane said. The firm is invited to rebid.
The pension funds' target allocation is 26% core fixed income, 21% domestic large-cap equities, 15% international equities, 10% global asset allocation, 8% domestic smidcap equities, 5% each hedge funds of funds and real estate, 4% high-yield fixed income, and 3% each global fixed income and Treasury inflation-protected securities. Each pension fund has the same asset allocation.
The general employees, firefighters and police pension funds have a combined $1.3 billion in assets.
The RFP is available on the city's procurement website. Registration is required. Proposals are due at 2 p.m. EDT on Sept. 10. A timeline for a decision has yet to be determined.