US - The California Public Employees' Retirement System (CalPERS) is in search of a manager to provide index fund products for six of its trust funds.
The request for proposal (RFP) is seeking one qualified manager to run passive mandates including US nominal bonds, US large capitalisation, global equity and global public real estate.
The fund is also seeking an asset allocation fund consisting of US inflation-linked bonds, US nominal bonds, global equity, global public real estate and commodities.
CalPERS already runs $5.7bn across these strategies.
The manager will need to have a background in managing index fund products and asset allocation strategies and will need to have at least $500bn in total assets under management and a minimum of $50bn in defined contribution assets.
The successful applicant is also expected to have five years of live performance history in each of the subject index fund products and must be registered with the Securities and Exchange Commission.
CalPERS said it will consider separate accounts, commingled funds, and exchange-traded funds. The deadline for the RFP is 14 December 2011.
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