Fixed-Income
The search is due to the June 30, 2025 contract expiration of the plan’s incumbent.
The retirement plan is screening for managers in the securitized credit, short-term investment grade and bank loan asset classes.
The plan interviewed two core-plus fixed-income managers at a board meeting last week.
The plan also retained two emerging market fixed-income managers.
The plan’s board will hear presentations from four domestic core fixed-income finalists next week.
The search follows a new asset allocation that includes maiden targets to corporate credit and bank loans.
The retirement plan replaced its domestic core-plus fixed-income manager following a bond manager review in May.
The plan is expected to issue the RFPs next month.
The retirement system approved an active international equity manager RFP last week.
The retirement system also disclosed a high-yield bond manager hire to complete a search launched last year.