How are Investment Management firms selected?
A. The OPERS Board is responsible for both hiring and terminating the investment management firms that work for the System. They are assisted in this process by OPERS staff and an investment consulting firm. The goal is to find the firm(s) that has particular expertise in managing the type of portfolio to be assigned. The OPERS staff and the investment consultant prepare requests for proposal (RFP’s) according to the specifications approved by the Board. The RFP’s are posted on the OPERS website in an open bidding process. Minimum criteria in the RFP assist interested investment managers in determining whether they are a possible match for System’s requirements. OPERS staff and the investment consultant review the submitted proposals and compile an analysis for the Board based upon responses received. The Board reviews the analysis of the responses and typically selects the top finalist firms to participate in an interview before the Board. Normally after hearing presentations from the
