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
For the full RFP, click here.