Searches And Hires
The pension plan hired the firm based on its favorable returns, low fees, diversification and low correlation to existing active core-plus fixed-income manager Loomis, Sayles & Company.
The manager will fill maiden targets of 5% to international small-cap equity for each plan.
The plan also named a new manager at a board meeting earlier this year.
The retirement association is looking to add a passive component to its international equity portfolio.
The firm will provide monitoring and evaluation of the plan’s discretionary investment manager.
The pension plan committed up to $40 million to an existing manager relationship yesterday.
The fund is searching for firms to provide low duration/short-term fixed-income exposure for a $104 million allocation and is slated to conduct a search later this summer for a manager to handle a new approximately $200 million core bond portfolio.
The foundation has issued an RFP seeking a firm to provide investment, participant, provider/vendor and fiduciary status and compliance services for its retirement plans after conducting a search for an investment provider in the first quarter.
The foundation recently made an undisclosed mission-related commitment to a venture strategy focused on biomedical tech start-ups.
The consultant will advise a deferred compensation board created by city council last year.