Fixed-Income
The plan is expected to issue the RFPs next month.
The retirement system approved an active international equity manager RFP last week.
The retirement system also disclosed a high-yield bond manager hire to complete a search launched last year.
The retirement system approved a commercial mortgage-backed securities commitment last month.
The deferred compensation plan replaced its intermediate fixed-income manager in February due to personnel changes.
The new manager will split the plan’s fixed-income portfolio with its existing core manager.
The plan adopted a new asset allocation that also eliminated risk parity and more than doubled its hedge fund target this week.
The pension plan’s investment committee approved four commitments totaling $275 million last week.
The pension fund hired two core fixed-income managers to split the mandate of its incumbent.
The RFPs are a result of a new asset allocation approved in May.