Fixed-Income
The plan is looking to hire one firm to replace two existing fixed-income managers.
The search follows a structure review that calls for two core and core-plus managers.
The union pension plan is seeking core or intermediate government/credit managers.
The city has issued an RFP seeking investment advisory services for its short- and medium-term investment portfolios.
The retirement fund swapped out its core fixed-income mandate with Western Asset Management at a meeting last month.
The pension is the latest to terminate the fixed-income manager in recent weeks.
The plan’s current manager has been under scrutiny due to organizational and personnel changes.
The replacement is due to recent organizational concerns at the incumbent firm.
The retirement system will revisit a search at its October meeting following finalist interviews held in August.
The two retirement systems will “address the issue again” in November.