Fixed-Income
The plan first hired managers for the asset class in 2015.
The plan replaced its passive TIPS mandate with BlackRock and committed to a new credit manager last month.
The plan transitioned to an external currency emerging market debt mandate to move away from its incumbent local currency mandate.
The plan increased its fixed-rate debt target by reducing its public equity target last month.
The university added a passive, long-term fixed-income strategy within its endowment in the fourth quarter in response to the rise in bond rates.
The search follows the departure of an investment associate that left at the beginning of the year to join a West Coast endowment.
The district expects to issue an intent to award the week of June 30.
The plan is searching for two emerging market debt managers and one high-yield fixed-income manager.
The contract of the plan’s incumbent high-yield fixed-income manager will expire this year.
Plan continues working toward executing a transition of assets away from the state fund.