High-Yield
The plan is seeking one or more managers to handle a portion of its short-duration pool.
The RFP will seek one or more short-duration high-yield fixed-income managers.
Pension plan expects to review approving a search for international small-cap equity managers next month.
Pension division issued an intent to award notice in a high-yield fixed-income manager search launched in 2021.
The plan will hire an additional firm in August as part of its multi-asset credit search.
The plan hired two firms to fill a new allocation to the asset class.
The plan is searching for two emerging market debt managers and one high-yield fixed-income manager.
The contract of the plan’s incumbent high-yield fixed-income manager will expire this year.
The recommendation stems from general investment consultant NEPC’s most recent asset class assumptions.
The plan expects to issue the RFP later this month and make a selection in the third quarter.