Fixed-Income
The plan had placed Western Asset Management on watch earlier this year.
The retirement fund currently works with fixed-income consultant RVK.
The plan terminated a manager that has been axed from several other pension funds in recent weeks.
The plan is seeking firms to handle an approximately $95 million mandate.
The plan also terminated its mandate with Western Asset Management at today’s board meeting.
The county deferred compensation and defined contribution plans swapped out an incumbent core-plus fixed-income manager under scrutiny from the SEC.
The retirement system added a trio of domestic core-plus fixed-income investments at last week’s board meeting.
The hire concludes an RFP process that began in May.
The plan’s core-plus fixed-income mandate assets have been redistributed to other bond managers.
The pension fund also added several private markets commitments in recent months.
