Core-Plus
The state trust fund has selected a new core-plus fixed-income manager to replace an existing manager following a search initiated last year.
The retirement board wrapped up domestic equity, non-U.S. equity and fixed-income searches at its board meeting this week.
The plan’s investment committee agreed on a recommendation in its domestic core-plus fixed-income manager search.
The plans terminated their mandate with domestic core-plus fixed-income manager Western Asset Management and hired a new record keeper in the fourth quarter.
The plans hired a new core-plus fixed-income manager in the third quarter.
The new manager replaces the plan’s mandate with Western Asset Management.
The plan also added a second bond fund option for participants last quarter.
The plan approved implementing an intermediate strategy at its November meeting.
The Windy City other post-employment benefits trust fund terminated its core-plus mandate with the firm last quarter.
The pension plan made a $24 million commitment to an existing real estate manager relationship in October.