Fixed-Income
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.
The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The plan removed two hedge fund investments totaling $40.8 million from its portfolio this week.
The plan will interview three government/credit bond managers next month.
Given available yields in short rates and “superior” liquidity in the current high interest rate environment, healthcare systems can benefit from allocating new funds to short-term tiers, according to a recent report.
The selection will conclude a core-plus fixed-income search for a replacement manager.