Fixed Income Investment Management Services

The University of Central Florida is issuing an Invitation to Negotiate (ITN2025-15NCSA) for fixed income investment management services for separately managed mandates across three operating pools, with proposals due July 24, 2026 at 3:00 p.m. Eastern Time and questions due July 6, 2026 at 5:00 p.m. Eastern Time.

UCF will manage approximately $284 million in fixed income assets across three pools as of March 2026: Operating Pool II ($63 million, 0–1 year maturity), Operating Pool III ($154 million, 1–5 year maturity), and Operating Pool IV ($67 million, 1–10 year maturity). Selected firms will manage assets in accordance with the UCF Investment Policy Manual, applicable Florida Statutes governing public funds, UCF Board of Trustees directives, and the University's established risk, liquidity, and return objectives. UCF retains discretion to allocate fixed income assets among selected managers based on performance, risk characteristics, and portfolio needs.

Minimum qualifications include at least 15 years of fixed income investment management experience, current SEC registration, a minimum of $500 million in assets under management within each applicable composite for each pool, demonstrated experience with public higher education institutions, and provision of a SOC 1 Type II report. Evaluation uses 100 points across seven criteria: Personnel and Firm Qualifications (18 points), Compliance and Regulatory Disclosures (10 points), Investment Process (27 points), Relationship Management (15 points), Fee Proposal (15 points), References (10 points), and Sample Materials (5 points). The contract term runs September 1, 2026 through August 31, 2031, with options to renew or extend for periods not exceeding five years or twice the original term, whichever is longer, or up to 12 months for extensions. Insurance requirements include General Liability ($1 million per occurrence, $2 million aggregate), Workers' Compensation consistent with Florida Statutes, and Auto Liability ($1 million combined single limit) if applicable. Proposals are submitted via UCF's Bonfire Web Portal. UCF reserves the right to reject any or all offers, award to multiple firms, and conduct negotiations with selected respondents.