Watertown (Mass.) Contributory Retirement System is searching for an active global fixed-income manager to run between $5 million and $7 million.
The $258 million pension fund issued an RFP because the contract of current manager Brandywine Global Investment Management is expiring, said Kayla Sheehan, director of the pension fund. The firm is invited to rebid, she said.
As of Dec. 31, the pension fund's actual allocation to fixed income was 26.2%; the target is 35%.
The RFP is available on the website of investment consultant Fiducient Advisors, which is assisting with the search. Proposals are due by 4 p.m. EDT on March 26. A selection is expected sometime before the end of September.
