Specifications include, but are not limited to: The Retirement Board members (the “Board”) of the Falmouth Retirement System (“FRS”) are seeking Requests for Proposal from investment management firms to manage up to 2% of the FRS’s defined benefit plan in a High Yield Bond product. The actual dollar allocation will be determined as a percentage of the portfolio and may fluctuate with total portfolio market value by the time the mandate is awarded to the winning bidder. Total assets of the FRS were reported by the custodian to be approximately $150 million as of September 30, 2018; therefore, the FRS expects to award approximately $3 million to the winning bidder. The Board will consider only commingled vehicles. Both actively managed and passively managed products will be considered.