Fixed-Income
The plan will receive recommendations to add managers to its watch list.
The plan agreed to split an intermediate bond allocation between two firms that presented at its January board meeting.
The divestments stem from New York State Comptroller Thomas DiNapoli’s Climate Action Plan.
The plan hired a pair of bank loan managers to handle roughly 3% of its overall portfolio this week.
The plan replaced several of its passive mandates with Vanguard Group at yesterday’s board meeting.
The pension plan recently committed approximately $7.4 billion total to six funds and terminated 12 existing strategies.
The hire resulted from a new asset allocation change.
The selected firm will help manage the authority’s bond proceeds.
The plan is looking to diversify its current fixed-income bucket.
The pension trust is running searches for investment grade corporate credit and multi-asset managers to handle respective allocations of $660 million and $130 million.