Passive High Yield Bond Service

The Massachusetts government authority seeks proposals from USA-based investment management firms to provide a passive high yield bond service. The selected vendor will manage up to 4.5% of the agency's defined benefit plan within a passive high yield bond product. The buyer will determine the exact dollar allocation as a percentage of the total portfolio, which may fluctuate based on the portfolio's total market value. The authority restricts eligibility exclusively to onshore United States organizations. The vendor will perform all work offsite. The buyer is currently looking for proposals to determine the budget and has not provided specific evaluation criteria or key dates in the opportunity description.