Fixed-Income
The plan is seeking strategies to replace a core-plus mandate with Western Asset Management.
The plan rehired its incumbents after receiving search reports in July.
The plan terminated two in favor of higher conviction managers.
The plan will vote to go back to a former general investment consultant next week.
The plan was notified of a manager termination as well as two redemptions at its Sept. 11 board of investments meeting.
The retirement systems also eliminated global low volatility and TIPS allocations earlier this year.
The plan will consider a replacement search for its $331 million core-plus fixed-income mandate with the firm.
The pension fund also concluded an emerging market debt manager search with a hire at today’s board meeting.
The termination request stems from the ongoing issues related to the SEC investigation and leave of absence by Co-CIO Ken Leech.
The water authority retirement plan replaced its domestic core-plus fixed-income manager in May due to underperformance.