Fixed-Income
The plan eliminated its TIPS target as part of a new asset allocation policy approved in March.
The retirement system diversified its domestic bond portfolio with the investment on April 1.
The pension system also reviewed a private equity pacing plan last week and sent out an invitation only multi-asset credit RFP in April.
The state trust fund approved a new asset allocation, increasing its fixed-income target at the expense of equities.
The retirement system shifted away from non-core fixed-income as part of changes approved at today’s investment committee meeting.
The pension fund is scheduled to review a draft RFP at next Thursday’s board meeting.
The selections conclude RFPs issued by the commonwealth in early 2024.
The plans have replaced their domestic core-plus fixed-income manager, which had been on watch since the second quarter of 2023.
The hire will save the plan over $1 million in fees annually.
The pension trust hired two new core-plus fixed-income managers at its meeting yesterday.