Fixed-Income
The college savings program added active bond strategies to replace two passive strategies to provide greater flexibility in country and security selection.
Plan is eyeing searches for active emerging market debt and private markets secondaries strategies following initial discussion earlier this month.
The plan will conduct searches in several fixed-income and credit sectors following a portfolio restructure stemming from an overall asset/liability study.
The plan disclosed recent commitments from both the public and private markets.
The plan added a new domestic large-cap growth equity option to its lineup in May.
The pension plan hired a firm to complement its existing fixed-income managers and rehired its general investment consultant yesterday.
Plan agreed to hire one of three core bond finalists to present at this week’s board meeting.
The proposed portfolio structure would result in searches for core, credit, U.S. Treasury, emerging market debt, securitized products and bank loans.
The searches are part of an implementation plan for its newly increased target allocation to yield-driven strategies.
The county is looking to hire one or more fixed-income managers to handle $600 million.