According to a notice on its web site, HPRS is considering modifications to its investment portfolio through the selection of a Core Fixed Income manager, as well as an International Small Cap manager. In both cases, HPRS says it is seeking to identify candidates that may complement its existing investments which, in the aggregate, are structured with the goal of “meeting or exceeding the system’s 8% actuarial rate of return without taking undue risks”.
The two RFP s are a $50 million proposal for a Core Fixed Income assignment, and a $15 million Small Cap International bid.
Regarding the fixed income assignment, HPRS says that the “product of interest should be a long only fixed income strategy that is benchmarked to the Barclays Capital Aggregate Index”. Additionally, candidates must be a SEC-registered investment adviser; have at least $1 billion in assets under management and at least $500 million in the particular product being offered; and have at least 5 years in operation as a firm.
As for the small cap international, HPRS says “the product of interest should be a long only International equity strategy focused exclusively on Small Cap names”. According to its web site, the selected firm will also be a SEC-registered investment adviser; will have at least $500 million in assets under management and at least $200 million in the particular product being offered; and have at least 5 years in operation as a firm.
In both cases, respondents that may be classified as Ohio-based and/or minority/female-owned companies as defined by the Ohio Revised Code should indicate as such. Qualified candidates electing to respond to the RFPs must submit their proposal electronically no later than March 12, 2010.
HPRS says that proposals must present the information in the order of the questions listed, and that responses longer 30 pages will not be considered. Supporting materials may accompany the RFP as attached exhibits in a separate file.
More information – and copies of the RFPs are available online at https://www.ohprs.org/ohprs/Investments.jsp