The San Diego County Employees Retirement Association this month issued a request for proposal for general investment consulting services for a five-year contract, with submissions due by December 13.
“The General Investment Consultant will be appointed by the SDCERA Board of Retirement and will serve as an independent expert on Board investment policy, asset allocation and Trust Fund performance,” states the RFP, which was issued on November 1. “The Consultant will work with SDCERA Staff on assigned duties and projects as an extension of SDCERA Staff providing asset allocation analysis, risk-return analysis, investment manager analysis and overall support as specified in SDCERA’s Investment Policy Statement.”
SDCERA seeks firms that have provided investment consulting services to at least three public defined benefit pension funds, each with at least $5 billion in assets, within the last five years.
The investment consultant will provide analysis and input concerning long-term investment policy and investment objectives and strategy, according to the RFP.
The fund will evaluate proposals until January 31, 2025. Interviews with selected firms will commence February 20, with board presentations and interviews occurring March 20. A consultant will be selected by April, and work will start on July 15.
SDCERA manages retirement and other benefits for more than 50,000 active and retired San Diego County employees. The fund manages $17.7 billion in assets, reporting an 11.3% return as of June 30, and three-, five- and 10-year returns of 3.4%, 6.9% and 6.3%, respectively.
In January 2021, the pension fund selected Aon Hewitt for a five-year term as its investment consultant.
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Tags: Investment Consultant, request for proposal, RFP, San Diego County Employees Retirement Association, SDCERA