Key Takeaways
- • Plymouth County Retirement Association intends to invest $10 million in an insurance-linked securities (ILS) fixed income strategy, according to its Board.
- • The pension manages roughly $1.4 billion in assets and had about 18% allocated to fixed income at the end of 2021.
- • Meketa Investment Group is managing the RFP on the pension's behalf, with proposals due November 23.
- • The Board is seeking proposals from experienced ILS managers only.
Summary
The Board of the Plymouth County Retirement Association, which provides pensions and benefits to more than 11,500 participants from 24 municipalities, 5 regional schools, 17 housing authorities and 6 special districts, has published a request for proposal seeking an insurance-linked securities investment manager. The RFP was posted on the Massachusetts state government website, as reported by Artemis.bm.
The Board said it intends to invest $10 million into the ILS strategy, which is structured as a fixed income strategy. Proposals are limited to experienced ILS managers. The RFP is being administered on the pension's behalf by Meketa Investment Group, and the full document is available through the consultancy's website. Proposals are due November 23.
The pension has around $1.4 billion in assets under management and held roughly 18% in fixed income strategies at the end of 2021. The commitment is small relative to the overall portfolio, consistent with the role ILS typically plays as a diversifying component within pension plans.
Artemis.bm noted that the RFP signals continued interest among US retirement funds in the return potential of ILS as a diversifying allocation. The publisher's context also lists other recent Plymouth County RFPs, including hedge fund, private equity, real estate and emerging markets equity mandates, indicating an active procurement program.
The Board said it intends to invest $10 million into the ILS strategy, which is structured as a fixed income strategy. Proposals are limited to experienced ILS managers. The RFP is being administered on the pension's behalf by Meketa Investment Group, and the full document is available through the consultancy's website. Proposals are due November 23.
The pension has around $1.4 billion in assets under management and held roughly 18% in fixed income strategies at the end of 2021. The commitment is small relative to the overall portfolio, consistent with the role ILS typically plays as a diversifying component within pension plans.
Artemis.bm noted that the RFP signals continued interest among US retirement funds in the return potential of ILS as a diversifying allocation. The publisher's context also lists other recent Plymouth County RFPs, including hedge fund, private equity, real estate and emerging markets equity mandates, indicating an active procurement program.
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