Fixed-Income
The trust fund revised the target asset allocation for its reserve pool at an April meeting, increasing its targets to fixed-income and international equity, following a study on its investment policy and practices.
The plan agreed to utilize a fund-of-one manager to implement its maiden private credit allocation and hired a short-duration fixed-income manager this week.
The plan’s investment committee also approved a private debt commitment last week.
The firm appointed a head of fixed-income, Americas to oversee its active fixed-income platform and develop actively managed solutions to meet investor needs.
The plan also named two semifinalists in its general investment consultant search.
The plan hired two firms to fill a new allocation to the asset class.
The plan will seek a replacement for a manager redeemed last month due to organizational concerns and performance reasons.
An anonymous mid-Atlantic Taft-Hartley plan is searching for a core fixed-income manager to handle $20 million.
The search follows discussions on an underperforming incumbent manager.
The plan approved the RFP at its board meeting last week.