Fixed-Income
The plan will review a draft of an RFP expected to be issued in late August.
The plan is also expected to hire high-yield and investment grade bond managers later this year.
The retirement system approved a contract with a domestic core fixed-income manager last month.
The board approved investing more than $600 million with a core-plus fixed-income strategy with a new manager within its portfolio.
The plan concluded its global equity manager search with a replacement for one existing firm.
The board will weigh adding a core-plus fixed-income strategy with a new manager within its portfolio as it looks to shift to active from passive management and increase its risk profile.
The retirement system last conducted a similar search in 2019 due to regulatory requirements.
The new stable value fixed-income manager replaces the plan’s underperforming incumbent.
The retirement system made investments of $100 million each to “fixed-income replacement” and infrastructure funds this week.
The university is seeking fixed-income managers to handle separately managed mandates for three of its investment pools totaling approximately $284 million in assets.
