Fixed-Income
The deferred compensation plan is looking to add a complementary manager to its U.S. bond option.
The retirement system will conduct a search for three fixed-income mandates.
The plan launched a search in September for a restructuring of its opportunistic bond portfolio.
The retirement board wrapped up domestic equity, non-U.S. equity and fixed-income searches at its board meeting this week.
The plan’s investment committee agreed on a recommendation in its domestic core-plus fixed-income manager search.
The authority is seeking services for its $60 million core long-term portfolio.
The pension plan hired a domestic core fixed-income manager after increasing its target allocation to the asset class in the second quarter.
The plans terminated their mandate with domestic core-plus fixed-income manager Western Asset Management and hired a new record keeper in the fourth quarter.
Investors and allocators approached 2024 with an optimistic outlook, anticipating that inflation had peaked and would continue to reverse course, and they were rewarded as the Federal Reserve cut rates and equity and bond returns ended up firmly in the green. The year ahead, however, leaves investors with questions on how to navigate a market where valuations appear full and few assets appear cheap.
The university has been looking to reduce its exposure to short-term fixed-income.
