Introduction

Unconstrained Multi-Sector/Absolute Return Fixed Income (“UMSARFI”)

The Retirement Board (“the Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (“the Fund”) is requesting proposals from qualified firms interested in providing Unconstrained Multi-Sector/Absolute Return Fixed Income Investment Management (“Offerors”).

SERVICES TO BE PROVIDED

The Chicago Police Annuity and Benefit Fund (“Chicago PABF”) is seeking proposals from qualified firms to provide UMSARFI investment management services. The purpose of employing an UMSARFI manager (or multiples thereof) is to provide exposure across the entire spectrum of global fixed income markets, including but not limited to global government bonds, global credit, and global currencies. In addition, a key component of a UMSARFI manager is the ability to actively manage the duration and interest rate exposure of the strategy while also tactically adjusting the credit allocation. .The return goal of these portfolios should be to outperform 3 month LIBOR by 2.5% or more. HEDGE FUND PRODUCTS WILL NOT BE CONSIDERED

The Chicago PABF‘s hiring of any and all UMSARFI investment managers will require the execution of a management service contract.

The Chicago Pub is not obligated to award a contract to any of the respondents to this RFP.

[Read the RFP Submissions below for full details]

Questions concerning the RFP must be submitted in writing via e-mail to the investment consultant search contact ten (10) business days before the Proposal submission date deadline.

SUBMISSION OF PROPOSALS:

The Board’s investment consultant, NEPC (“the Consultant”) shall oversee the RFP process. If you are interested, you must submit an original hardcopy and electronic copy of the complete Proposal by August 5, 2013 to:

NEPC
Attn.: Angela Dawson
One Main Street
Cambridge, MA 02142-1517
ADawson@nepc.com

AND SUBMIT ELECTRONIC ONLY Copy to:
Policemen’s Annuity and Benefit Fund of Chicago
Attn: Sam Kunz, Chief Investment Officer
skunz@chipabf.org

Quiet Period

The quiet period begins when the RFP is issued and ends when a manager is selected by the Board or the process is declared to be complete. Managers will not contact Board members during the quiet period. A manager will be disqualified from the selection process for violating the quiet period. The Quiet Period for this RFP begins July 1, 2013.

Professional Advisors

Legal Advisor

Justin B. Kugler

Medical Advisor

Peter Orris, M.D.

Active Search

Delivery Instructions

An original hardcopy and electronic copy of the complete Proposal by August 5, 2013 to:

NEPC
Attn.: Angela Dawson
One Main Street
Cambridge, MA 02142-1517
ADawson@nepc.com

AND SUBMIT ELECTRONIC ONLY Copy to:
Policemen’s Annuity and
Benefit Fund of Chicago
Attn: Sam Kunz, Chief Investment Officer
skunz@chipabf.org

Q&A Section

Word Document

RFP Submission

Awarded

Pending

RFP Documents

Archived

Archives

Site Links

RFP Disclaimers

PABF Proposals become the property of the Fund and these and any late submissions will not be returned. Your Proposal will be open to the public under the Illinois Freedom of Information Act (FOIA) (5 ILCS 140) and other applicable laws and rules, unless you request in your Proposal that we treat certain information as exempt. We will not honor requests to exempt an entire Proposal. You must show the specific grounds in FOIA or another law or rule that support exempt treatment. Regardless, we will disclose the successful Bidder’s name, and the substance of the Proposal. If you request exempt treatment, you must submit an additional copy of the Proposal with exempt information deleted. This copy must tell the general nature of the material removed and shall retain as much of the Proposal as possible. You will be responsible for any costs or damages associated with our defending your request for exempt treatment. You agree the Fund may copy the Proposal to facilitate evaluation, or to respond to requests for public records. You warrant that such copying will not violate the rights of any third party.

Non-Discrimination: No decisions regarding Bidders will be influenced by race, sex, color, religion, national origin, age, disability, veteran status, marital status, or any other unlawful basis.

Exceptions

Exceptions: (i) sole source procurements, (ii) emergency procurements, and (iii) at the discretion of the pension fund, retirement system, or board of investment, contracts that are nonrenewable and one year or less in duration, so long as the contract has a value of less than $20,000.