Cash/Currency
The hire concludes an RFI that was sent to seven overlay managers in September.
The trust is seeking an investment manager and a money market provider.
The selected manager will handle approximately $373 million.
The plan approved a futures overlay manager search to remove its cash drag and also hired a new infrastructure manager yesterday.
The plan replaced the cash overlay provider for its Commingled Trust Fund and approved two private equity commitments yesterday.
The plan hired a passive international equity manager in an effort to implement a hedging program and will see their first investment officer depart next week.
Plan disclosed a $25 million buyout commitment and axed a currency overlay mandate in June.
The agency retained two of its existing investment managers at yesterday’s board meeting.
A Midwestern plan hired a currency overlay manager and added commitments totaling $508 million this month.
A university in the Midwest has hired a cash pool advisor.