Searches And Hires
The higher education agency selected a firm to provide financial and investment advisory services for its student loan program to conclude a search from late 2023.
The revised international equity portfolio structure shifts the allocation closer to its MSCI All Country World Index ex USA benchmark and increases active management to 70% from approximately 40%.
The selected firm will serve an initial one-year term beginning on Jan. 1.
The plan had placed Western Asset Management on watch earlier this year.
The agency expects to commence a contract on July 1.
The retirement fund currently works with fixed-income consultant RVK.
The county rehired the investment consultant that serves on behalf of its defined benefit plan, OPEB trust and LOSAP program trust.
The plan is also conducting a consultant search for informational purposes.
The manager hire concludes a domestic all-cap equity index manager search, which the program launched in March.
The plan is looking to commit $10 million to the asset class for pacing purposes.