Fixed-Income
Expansions will help the systems reach their goal of having 15% of U.S.-based actively managed investment assets with diverse-owned firms by 2025 and 20% by 2029.
The plan made two hires in its search for multi-sector fixed-income managers.
The college savings plan has added two underlying high-yield fixed-income funds with existing managers within its portfolio.
The fund selected a firm to provide low duration/short-term fixed-income exposure over three other managers following finalist interviews held at its board meeting last month.
The plan is looking to hire three managers to handle a total of more than $1.6 billion.
The interviews follow searches conducted after approval of a new asset allocation mix this year.
The state investment management board is searching for a long-only separate account manager for the asset class.
The pension fund’s 3% portfolio to the asset class is currently held in an index fund.
The plan hired two diverse-owned bond managers to complete a search launched earlier this year.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.