Fixed-Income
The retirement system has approximately $159 million allocated to its incumbent managers.
The advisor will provide services for the county’s $510 million long-term core and $104 million long-term multi-asset class investment portfolios.
The pension fund approved the searches at last week’s board meeting.
Searches for high-yield fixed-income managers and a general investment consultant were approved at today’s board meeting.
The plan hired a new domestic fixed-income manager earlier this year.
The plan is considering a 5% dedicated allocation to the new asset class.
The retirement fund terminated a fixed-income manager and made commitments totaling $2.9 billion in March.
The retirement system is looking to invest $15 million with a core investment grade manager.
The systems hired a core fixed-income replacement following finalist interviews held last week.
The retirement system terminated four international and emerging markets equity managers in February.