Only proposals for experienced managers of opportunistic low duration credit strategies will be considered. The reference benchmark for the mandate is the Bloomberg U.S. Credit 1-3 Year Index. The search will target investment grade strategies but there is a tolerance for opportunistic off-benchmark exposure in below investment grade credit. The firm must have a minimum of $10 billion under management in total, $5 billion invested in the opportunistic low duration credit strategy, and a five-year performance history by the same decision makers in the fund. Liquidity of the strategy should be daily. The objective of this Request for Proposal shall be to identify that manager whose expertise will best meet the Board's goals and needs.
