Philadelphia Gas Works Retirement Reserve is searching for an investment consultant, said Christopher DiFusco, chief investment officer for the Philadelphia Sinking Fund Commission and trustee of the $580 million pension fund.
The search is being conducted to comply with city ordinance requiring contracts be put out to bid at least once every four years. PFM Asset Management is the current investment consultant and is invited to rebid.
As of Dec. 31, the plan had a 40.64% allocation to domestic large-cap equities, 29.91% fixed income, 20.33% international equities and 9.12% domestic small-cap equities.
The RFP is available on the city's procurement website. Registration is required.
Proposals are due by 5 p.m. EST March 6. A contract is expected to be signed on April 1.
