Core-Plus
The selection will conclude a core-plus fixed-income search for a replacement manager.
The plan approved a core-plus fixed-income manager search and terminated its hedge fund-of-funds mandate as the result of a new asset allocation policy.
The plan will consider active core and core-plus fixed-income manager hires in May as a result of a new asset allocation that also eliminated its 2.5% risk parity target yesterday.
The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
Plan’s investment committee selected one core fixed-income manager and one core-plus bond manager at today’s meeting.
The trust’s incumbent consultant is on a six-month contract.
The plan will issue a general investment consultant RFP due to an upcoming contract expiration and conduct an asset allocation study to consider eliminating its risk parity asset allocation.
The plan will begin with a mid-cap growth equity manager search in January.
The state’s defined contribution plan is seeking a core-plus fixed-income manager.
Plan will seek board approval for international equity and U.S. fixed-income portfolio structures that would see new manager additions this week.
