Taunton (Mass.) Contributory Retirement System is searching for an investment consultant.
The $382 million pension fund is seeking proposals from firms that can provide investment advice to its board, according to a notice posted on the website of the Massachusetts Public Employee Administration Commission.
The notice does not disclose whether current consultant Dahab Associates is eligible to rebid, but the last time the pension fund put the services up for bid in 2018, Dahab was the incumbent and was rehired. Municipal pension funds in Massachusetts typically issue RFPs due to PERAC requirements that pension funds put the services up for bid periodically.
As of Sept. 30, the pension fund's actual allocation was 24.3% domestic large-cap equities, 19.2% fixed income, 16.9% real assets, 11.2% international developed markets equities, 11% domestic midcap equities, 9.3% domestic small-cap equities, 2.9% emerging markets equities, 2.7% cash and equivalent and the rest in alternative assets.
The target allocation is 22.5% domestic large-cap equities, 20% fixed income, 15% real assets, 13.5% international developed markets equities, 10% each domestic small-cap equities and domestic midcap equities, 5% alternative assets and 4% emerging markets equities.
According to the notice on the PERAC website, the RFP will be imminently posted on the pension fund's website. Proposals will be due at noon EST on Feb. 22. A timeline for a selection was not provided.
Paul Slivinski, executive director, could not be immediately reached for further information.
