Fixed-Income
The plan is seeking multi-sector fixed-income managers to handle approximately $43 million.
The plan is seeking a firm to fill its maiden 8.5% target to core-plus fixed-income.
The managers will complement existing core-plus manager TCW.
The plan expects to issue an RFP this year seeking a core-plus fixed-income manager to handle between $100 million and $150 million.
The plan selected a manager after interviewing three finalists last month.
Plan has issued RFPs for minority-, women- or disabled-owned core bond and short-duration bond managers.
The plan introduced a 5% target to private debt and restructured its U.S. fixed-income and both U.S. and non-U.S. equity portfolios last week.
FIN Searches data finds the fixed-income space saw a hike in activity during the first quarter, which the industry believes can be attributed in part to the high interest rate environment.
The plan will issue its RFP for multi-sector fixed-income managers later this month.
The recommended changes include introducing a 5% target to private debt and restructuring the plan’s U.S. fixed-income and both U.S. and non-U.S. equity portfolios.