Fixed-Income

The plan approved adding an unconstrained fixed-income manager to provide additional alpha generation and diversification to its portfolio at a meeting this week.

The institution added a short-duration fixed-credit strategy and structured credit vehicle to its endowment last week as it looks to focus on risk mitigation given volatility in the equity and fixed-income markets.

Plan’s new global credit manager will handle an approximately $700 million mandate.

Plan’s decision to move all of its fixed-income assets in-house will reduce its annual fees.