Fixed-Income
CPERA completed its fixed-income unitization project, which will reduce investment management fees for participants of its defined contribution plans.
The board terminated three domestic fixed-income strategies, which handled $1.2 billion total across its three plans.
The plan will receive a list of active duration fixed-income managers next month.
He will focus on investment-grade credit for the specialized fixed-income investment team.
The portfolio manager joined the firm this month and is responsible for overseeing global bond portfolios.
The plan hired an existing manager to temporarily handle a roughly $70 million allocation and announced the promotion of an investment officer at a meeting yesterday.
The plan began a search last year to complement its core-plus manager.
The plan first hired Highclere International Investors in 2019.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
The university will consider adding a passive domestic large-cap value strategy to provide a more balanced approach to its equity portfolio and a private debt manager as it looks to build out its allocation to the asset class.
