US - The $29bn Massachusetts Pensions Reserves Investment Management Board (MPRIMB) is conducting a search for a new securities lending agent.
The Boston-based fund is looking for one or more firms to provide securities lending services - on a principal basis - on its fixed income, US and international equity portfolios. Bids will only be accepted from firms with an A / A2 long term credit rating.
MPRIMB’s chief investment officer Jerrold Mitchell said that the search will close at the end of October, with an appointment expected in January.
Additionally, Mitchell said that the Board had selected Forest Investment Associates and The Campbell Group to run $600m worth of timber mandates - its first hires in the asset class. Forest will run $350m whilst The Campbell Group has a $250m mandate.
W R Huff has also been selected to run a $600m high yield bond mandate. W R Huff joins Fidelity and Loomis Sayles as managers in the asset class. Both Fidelity and Loomis Sayles oversee $600m.
MPRIMB is advised by The Wilshire Associates.
By Geoffrey Ho
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.