The Federal Retirement Thrift Investment Board (FRTIB) announced today that it has released a request for proposal (RFP) for a fund manager for its Common Stock Index Investment Fund (C Fund).
The C Fund is part of the Thrift Savings Plan and tracks the performance of the S&P 500 Index by investing in companies that comprise that index. The earnings consist of dividend income and gains or losses in the prices of stocks. As of December 2014, the C Fund held $140.7 billion in assets.
The contract will be for a one-year term, with four one-year options. The FRTIB expects to award the contract in the second quarter of the year.
Over the past two years, the FRTIB has issued RFPs for the other two stock and bond funds offered by the TSP. The C Fund and the FRTIB’s other funds — the Fixed Income Index Investment Fund, the Small Cap Stock Index Common Stock Investment Fund, and the International Stock Index Investment Fund – are currently managed by BlackRock Institutional Trust Company, N.A. (BlackRock).
See also: Opening Up Mutual Fund Investment to TSP Investors
