RFP - Firemen’s Annuity & Benefit Fund of Chicago Search for Investment Advisor (SIA)

The Firemen’s Annuity & Benefit Fund of Chicago (the Fund) is searching for investment advisors to manage the following investment mandate in a fiduciary capacity to the Fund: liquid diversifying/liquid alternative strategy. The approximate mandate will be $34 million, representing a 4.0% target allocation of the total Fund.

Proposed strategies should exhibit:

  • Low or negative correlation to public equity (average equity beta <= 0.2)
  • Low to moderate volatility (average target <= 10%)
  • Low net leverage
  • Monthly liquidity (minimum)
  • Low management fee: less than 1.20% in management fees and expenses
  • Commingled vehicle or separate account accepted
  • Excluded strategies: risk parity, global asset allocation, long-biased, hedge fund of funds
  • Proposed benchmark: to be determined

Submission deadline is June 3. For the full RFP, click here.