Fixed-Income
The retirement association selected a firm to split its 6% allocation to liquid credit at today’s board meeting.
The fund is removing a bond overlay as market monitor signals have moved to short from neutral and is also increasing two infrastructure commitments within its portfolio.
A state trust fund is considering a recommendation from its consultant to diversify its public credit portfolio in one of its funds.
The retirement fund received three proposals in response to its fixed-income consultant RFP.
The city is seeking a firm to provide the services for its short- and long-term portfolios.
The retirement system added a second manager to its fixed-income portfolio last month.
The pension fund also trimmed an underperforming manager’s mandate by 30%.
The retirement fund also disclosed commitments totaling roughly $1.5 billion in March.
The plan tapped an active manager after voting to move to an all-active approach for the fixed-income portfolio to achieve better long-term return prospects.
The treasury has issued its RFP seeking fixed-income investment managers for its $1.6 billion liquidity and $4.4 billion reserve accounts.
