Fixed-Income
The organization revised its target asset allocation last week, boosting its target to fixed-income at the expense of REITs, which is expected to result in the liquidation of an exchange traded fund.
The plan hired two managers after interviewing a total of four finalists last month.
The pension plan hired a manager to implement its maiden 7% target to domestic fixed-income as part of a new asset allocation policy in March.
The plan approved the search at its board meeting earlier this week and has a 6% target to global multi-sector fixed-income.
The pension plan hired a multi-sector fixed-income manager to replace a core-plus manager in March.
The plan will hire one additional firm in its multi-credit asset class search.
The church pension hired a new core fixed-income manager in addition to investments and co-investments in private equity and real estate in June.
The plan is seeking one or more managers to handle a portion of its short-duration pool.
The RFP will seek one or more short-duration high-yield fixed-income managers.
The pension plan hired the firm based on its favorable returns, low fees, diversification and low correlation to existing active core-plus fixed-income manager Loomis, Sayles & Company.
