Wednesday, 28 January 2015
Last updated 6 hours ago
Mar 6 2008 | 1:00am ET
The $120 million Plymouth (Mass.) Retirement Board has issued a request for proposals for active management of its portfolio utilizing a manager of managers strategy.
“Right now we have a consultant, Segal Advisors, that makes suggestions and implements what our board wants to do but our board really has the fiduciary responsibility right now,” said a source within the fund. “What they’re looking for is a company that will take that responsibility away and do it themselves such as redistributing that entire fund.”
Plymouth currently has 5% of its portfolio allocated to hedge funds and private equity funds.
The deadline for the RFP, which can be accessed on the Public Employee Retirement Administration Commission Web site, is March 31.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…