US - The US$10.6bn New Mexico Public Employees Retirement Association (PERA) has issued a tender for investment consulting services as it seeks to broaden its investment scope.
Bob Gish, CIO for PERA said: “We now have authority to invest in alternative assets, so we are broadening the scope of our consulting services to include he possibility of a consultant who either specialises in alternative space rather than traditional stocks and bonds asset classes, or to a consultant that will do both.”
PERA’s current financial consultant is Callan, who’s contract is set to expire on June 30. “That is another part of the reason why looking for a consultant,” added Gish. PERA has requested proposals for the three types of investment consulting services, namely general investment consulting, alternative investment consulting and specialised investment consulting.
The deadline for proposals is February 10.
This week's edition of Professional Pensions is out now.
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Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.