Core-Plus
The plan expects to issue an RFP this year seeking a core-plus fixed-income manager to handle between $100 million and $150 million.
The plan is seeking active core and core-plus bond managers to handle roughly $125 million each.
The plan added two core-plus fixed-income managers to the portfolio and made 11 alternatives commitments in the first quarter.
The selection will conclude a core-plus fixed-income search for a replacement manager.
The plan approved a core-plus fixed-income manager search and terminated its hedge fund-of-funds mandate as the result of a new asset allocation policy.
The plan will consider active core and core-plus fixed-income manager hires in May as a result of a new asset allocation that also eliminated its 2.5% risk parity target yesterday.
The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
Plan’s investment committee selected one core fixed-income manager and one core-plus bond manager at today’s meeting.
The trust’s incumbent consultant is on a six-month contract.
The plan will issue a general investment consultant RFP due to an upcoming contract expiration and conduct an asset allocation study to consider eliminating its risk parity asset allocation.