Fixed-Income
The plan approved implementing an intermediate strategy at its November meeting.
The Windy City other post-employment benefits trust fund terminated its core-plus mandate with the firm last quarter.
The plan’s board voted today to replace the incumbent with a comparable provider.
The search is required by standard state procurement laws.
The plan’s current manager was first hired in 2017.
The retirement system hired Dimensional Fund Advisors to handle international value and domestic small-cap value equity mandates last quarter.
The plan also made a hire to replace its mandate with Western Asset Management.
The retirement systems will look to hire a core bond replacement next quarter after terminating Western Asset Management last month.
The plan interviewed two firms earlier this month as it looks to replace Western Asset Management.
The firm also hired two high-yield fixed-income managers to handle $450 million each.