Daily Feed
The retirement system will add three active core fixed-income managers to its portfolio.
Columbia will likely avoid the 1.4 percent endowment tax that it could have been subject to under the newly reformed endowment tax tier system introduced in President Donald Trump’s tax and spending bill.
The city received five proposals in response to its RFP seeking investment management services.
The firm’s newest senior consultant joins from CAPTRUST Financial Advisors.
The retirement system is looking to hire long volatility and global macro managers after increasing its target allocation to the crisis risk offset portfolio.
The city previously issued an RFP for the services in June before quickly canceling the procurement.
The retirement system will interview four firms next month for an up to $225 million mandate.
The retirement system approved three alternatives commitments at its meeting last week.
The search will fill a newly created investment analyst position.
The retirement system’s outsourced cio recently terminated a global large-cap core equity manager due to underperformance.