Fixed-Income
The firm also hired two high-yield fixed-income managers to handle $450 million each.
The plan also disclosed several alternatives commitments approved at a board meeting today.
The plan will interview two fixed-income managers early next year amid a potential portfolio restructuring.
A trust fund based in a Western state terminated one of its core-plus fixed-income managers during a recent meeting.
The plan has made several changes to its portfolio in recent months.
The asset classes were recommended by the OPEB trust’s new general investment consultant.
The plan added a new fixed-income manager to its investment lineup during the second quarter.
The retirement system will also launch a search for private credit managers next year.
The plan will replace its core-plus and global opportunistic bond managers.
The plan instructed its consultant to prepare an analysis of alternative firms to its incumbent core-plus bond manager.