Westfield (Mass.) Contributory Retirement System is looking to allocate $5 million to $10 million to an active global unconstrained/opportunistic and flexible duration fixed-income strategy.
Fiducient Advisors, investment consultant to the $290 million defined benefit system, is assisting in the search.
The investment would be a new allocation for the plan, said Liam Browne, retirement administrator for the retirement plan, in an email. Funding will come from reallocating within its fixed-income portfolio.
The board is looking for a fixed-income strategy that is not highly correlated to the Bloomberg Barclays U.S. Aggregate index. Core-plus, multisector, hedge funds and illiquid strategies will not be considered.
The RFP is available on Fiducient Advisors' website. Proposals are due 4 p.m. EDT April 23. The board expects to interview finalists at its June meeting.