Core-Plus
The plan’s investment committee agreed on a recommendation in its domestic core-plus fixed-income manager search.
The plans terminated their mandate with domestic core-plus fixed-income manager Western Asset Management and hired a new record keeper in the fourth quarter.
The plans hired a new core-plus fixed-income manager in the third quarter.
The new manager replaces the plan’s mandate with Western Asset Management.
The plan also added a second bond fund option for participants last quarter.
The plan approved implementing an intermediate strategy at its November meeting.
The Windy City other post-employment benefits trust fund terminated its core-plus mandate with the firm last quarter.
The pension plan made a $24 million commitment to an existing real estate manager relationship in October.
The plan interviewed two firms earlier this month as it looks to replace Western Asset Management.
The plan also disclosed several alternatives commitments approved at a board meeting today.