Key Takeaways
- • The Malden retirement board has hired a new investment manager to oversee its entire portfolio.
- • The appointment followed a request for proposals (RFP) the board issued the previous year.
- • The mandate covers total fund assets, making the selection a full-portfolio manager change rather than a single-strategy allocation.
Summary
The Malden retirement board has selected a new investment manager to handle its entire portfolio, according to Financial Investment News (FIN). The board initiated the search by issuing a request for proposals last year, and the hiring marks the outcome of that process.
Because the mandate covers the full portfolio rather than a discrete sleeve, the appointment is a significant governance decision for the fund and its stakeholders. The source article does not disclose the name of the selected firm, the mandate size, or the terms of the engagement.
Because the mandate covers the full portfolio rather than a discrete sleeve, the appointment is a significant governance decision for the fund and its stakeholders. The source article does not disclose the name of the selected firm, the mandate size, or the terms of the engagement.
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