Passive Fixed-Income
The retirement system agreed to hire a new core fixed-income manager at today’s meeting.
The pension system will hear a recommendation to interview three finalists in an ongoing active core fixed-income manager search.
The firm will continue to provide private equity and real asset consulting services for the plan following its rehire last week.
The plan’s board voted today to replace the incumbent with a comparable provider.
The plan relaunched a search after initially hiring a firm last year.
The plan has made several changes to its portfolio in recent months.
The health system anticipates its new general investment consultant, which was hired in the first quarter, will recommend adding new passive investment managers and potentially private investment strategies to its portfolio next year.
The pension plan has eliminated three asset classes as part of a newly approved asset allocation policy.
The searches follow a review of the overall asset class this week’s meetings.
The plan also terminated an emerging markets equity manager in June.