The plan hired three firms to replace its incumbent core fixed-income managers.
Plan approved a new asset allocation policy that addresses the current marketplace.
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.
Investors look to emerging markets fixed-income for diversification and ESG prospects.
Funding for the new investments will come from the plan’s existing high-yield mandate.
He will implement investment strategy for Mesirow Strategic Fixed-Income.
Plan’s passive investment exposure will now be with one manager.
Plan committed to direct lending, infrastructure and real estate strategies with existing managers yesterday.
Firm will establish and actively manage a fixed-income portfolio with core and intermediate strategies.