TSP Seeks Bids for International Stocks

bloomua/Shutterstock.com

The board that administers the Thrift Savings Plan will award a new management contract for the portfolio’s international stocks by the end of 2013.

The I Fund, which had $28.8 billion in assets as of May 2013, fell 3.12 percent last month after a 5.32 percent gain in April. Overall the fund is up 6.46 percent since January.

The Federal Retirement Thrift Investment Board rebids its contracts for management of the TSP funds regularly, said Kim Weaver, the board’s director of external affairs. “We did the F Fund last fall and awarded that contract to BlackRock at the end of last year,” Weaver said. The board plans to issue a request for proposals for the C and S funds in the coming months, Weaver said.

The I Fund contract will be for a one-year term, with four one-year options.

BlackRock Institutional Trust Company, N.A. currently manages all the TSP funds.

(Image via bloomua/Shutterstock.com)

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