The pension plan hired the firm based on its favorable returns, low fees, diversification and low correlation to existing active core-plus fixed-income manager Loomis, Sayles & Company.
The fund is searching for firms to provide low duration/short-term fixed-income exposure for a $104 million allocation and is slated to conduct a search later this summer for a manager to handle a new approximately $200 million core bond portfolio.
The plan is seeking diverse-owned firms to handle short-term TIPS and long-term U.S. government bond managers to preferably run the allocations in passive or enhanced index strategies.
The institution is searching for an investment manager for public markets to participate in all aspects of its investment process from identifying and evaluating new investment opportunities through conducting due diligence meetings with potential managers.