Fixed-Income
The plan also made a hire to replace its mandate with Western Asset Management.
The retirement systems will look to hire a core bond replacement next quarter after terminating Western Asset Management last month.
The plan interviewed two firms earlier this month as it looks to replace Western Asset Management.
The firm also hired two high-yield fixed-income managers to handle $450 million each.
The plan also disclosed several alternatives commitments approved at a board meeting today.
The plan will interview two fixed-income managers early next year amid a potential portfolio restructuring.
A trust fund based in a Western state terminated one of its core-plus fixed-income managers during a recent meeting.
The plan has made several changes to its portfolio in recent months.
The asset classes were recommended by the OPEB trust’s new general investment consultant.
The plan added a new fixed-income manager to its investment lineup during the second quarter.
