Taunton (Mass.) Contributory Retirement System is searching for active domestic fixed-income managers to run a total of $60 million.
The $445 million pension fund issued an RFP for core, core-plus fixed income and high-yield managers, said Kevin Condy, director of research at Dahab Associates, the pension fund's investment consultant, in an email.
Current fixed-income managers Barksdale Investment Management, C.S. McKee and Manulife Investment Management are all invited to rebid, Mr. Condy said.
As of Dec. 31, the managers ran $21 million, $20 million and $19 million, respectively, for the pension fund. According to the pension fund's most recent available investment report, Barksdale and C.S. McKee currently run core portfolios and Manulife, core-plus.
The RFP calls for three separate portfolios of $20 million each, managed by any combination of core, core-plus or high-yield managers.
As of Dec. 31, the actual allocation to fixed income was 16.5%; the target is 20%.
The RFP is available on Dahab's website. Proposals are due at 5 p.m. EDT on May 13. A timeline for a selection has yet to be determined.
Dahab is assisting with the search.
Paul J. Slivinski, the pension fund's executive director, could not be immediately reached for further information.
