San Diego City Employees' Retirement System is searching for a general, non-discretionary, investment consultant, said Elizabeth Crisafi, chief investment officer.
The $8 billion pension fund has issued an RFP because of its policy to put the services up for bid every five years, Ms. Crisafi said. The current consultant, Aon Hewitt Investment Consulting, is invited to rebid.
As of June 30, the pension fund's actual allocation was: 21.3% core fixed income, 19.8% domestic equities, 15.8% international equities, 13.8% private equity & infrastructure, 10.6% real estate, 8% global equities, 5% emerging markets debt, 3.2% opportunity funds and the rest in cash.
The targets are 22% core fixed income, 18% domestic equities, 15% international equities, 13% private equity & infrastructure, 11% real estate, 8% each, global equities and opportunity funds and 5% emerging markets debt.
The RFP is available on SDCERS' website. Proposals are due at 5 p.m. PDT on Sept. 30. Finalist interviews and board approval of a selection are tentatively scheduled for March 12.
Governance consultant Cortex Applied Research is assisting.