Firemen’s Annuity & Benefit Fund of Chicago: U.S. Core Plus Fixed Income RFP

The Firemen’s Annuity & Benefit Fund of Chicago is searching for an investment adviser from qualified investment advisers to manage a U.S. Core Plus Fixed Income mandate in a fiduciary capacity to the Fund.

The approximate mandate will be $70 million, representing a 5.5% target allocation of the total Fund. The mandate will be benchmarked against the Bloomberg Aggregate Index. Proposed strategies should exhibit:

  • The portfolio’s average rating will be A- or Better by Moody’s or Standard and Poor’s.
  • No more than 25% invested in non-dollar denominated bonds
  • No more than 30% invested in non-investment grade bonds
  • Derivatives permitted to hedge duration, currency, credit risk, and yield curve risk. Derivatives may not be employed to create a levered exposure.
  • Duration exposure should fall within a +/-30% range of the index.

How to Participate in this Search: Visit the Fund’s website for the full RFP and Q&A.

Timeline Change: 

Response due: Oct. 25, 2024 by 3:00 p.m. CT

Finalist presentations: Nov. 18, 2024 

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