Fixed-Income
The plan recently considered replacing its domestic core-plus fixed-income manager due to underperforma
The foundation is looking to allocate to impact or mission-aligned investments across fixed-income and equity markets as it begins to explore similar investments in the private markets.
The changes stem from a new global equity manager structure.
The plan is looking to invest $10 million each with private equity and opportunistic fixed-income managers.
The plan is considering adding core and core-plus fixed-income managers to its portfolio.
There are no immediate plans to allocate funds to the manager but it will be an option for future use if needed.
A portfolio manager overseeing several bond funds and another manager overseeing the global asset manager’s quantitative solutions team are set to retire next year.
The global asset manager has hired three portfolio managers to help launch two emerging market debt strategies later this year.
The plan’s current manager was first hired in 2017.
The deferred compensation plan hired four fixed-income managers to handle a total of $2.75 billion.