The Alabama Trust Fund has released a request for proposal for a custodian. The $2.3 billion fund was established as an investment vehicle for the management of oil and gas capital payments generated from drilling activity in Alabamas offshore waters.
The portfolio is managed by sixteen managers investing the assets domestic equities, global equities and real estate, plus two international equity mutual funds. Additional asset classes may be considered in the future. Securities lending is currently managed on the portfolio by the custodian.
The Board is also responsible for the management of the County Municipal Government Capital Improvement Trust Fund (CMGCITF). As of March 2012, the balance in this fund was approximately $417 million and is currently invested by one fixed income manager. The selected custodian will also serve this fund.
The services to be provided by the custodian include reporting, cash management, safekeeping and securities delivery and global custody.
The deadline for submission of the RFP is Oct. 9 2012. Questions on the RFP should be directed to Cory Rambo in the State Treasurers office.