Fixed-Income
The pension fund’s outsourced cio disclosed a pair of manager removals in the first quarter.
The trust recently hired managers to fill its maiden targets to listed infrastructure and listed REITs.
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.
