Non-U.S. & Global Fixed-Income
The plan will consider hiring five multi-asset credit managers and terminating five existing managers.
The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
The plan terminated an emerging market debt firm as well as an emerging markets equity relationship within its emerging manager program last month.
Plan’s investment committee will recommend terminations of an emerging market debt and an emerging markets equity manager at next week’s board meeting.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.
The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Program is seeking up to two firms to handle four investment options.