Today, the Pension Benefit Guaranty Corporation published a request for proposals under a pilot program for smaller asset managers. Proposals are due by Aug. 18, 2015.
The agency will hire up to five managers to invest in a U.S. fixed income portfolio with allocations ranging from $50 million to $250 million.
The Smaller Asset Managers Pilot Program creates new opportunities for such firms by reducing the required amounts of the assets they manage and their mandates. Before the pilot program, these contracts were out of reach to the firms because the minimum amounts of the investments, often in the billions, were too large for the firms to accommodate.
On June 8, PBGC hosted a pre-bidder's conference to help smaller asset managers understand the process that the agency uses to select money managers. A video is available for firms that couldn't attend.
For informational purposes only, this PBGC communication may contain links to websites not affiliated with the United States Government. Links to these websites do not constitute an endorsement or approval by PBGC or any of its employees regarding the information, service, product, or provider presented on the website. PBGC cannot attest to the accuracy of information provided by such websites. Please see PBGC's full disclaimer here.
Interested in more blog posts like this one? Sign up to receive updates from Retirement Matters.