Fixed-Income
The foundation’s revised asset allocation creates a maiden global bond allocation while increasing its targets to domestic fixed-income, real assets and domestic large-cap equity.
The pension plan will conduct a search for its in-state private markets program and also recently hired a high-yield fixed-income manager.
The retirement system will conduct searches for international small-cap equity, high-yield fixed-income and bank loan managers.
The retirement fund is seeking managers to handle between $150 million and $350 million.
The searches are required to comply with state procurement requirements.
The university is seeking an investment manager to handle a highly liquid, short-term investment vehicle comprised of fixed-income investments that are intended to link closely with its existing daily cash receipts and payments systems.
The foundation is seeking an investment associate focused on public equity and fixed-income to assist in the development and implementation of portfolio strategies.
The fund approved consolidating its public credit portfolio into a passive U.S. aggregate bond index to improve operational efficiency, reduce fees and reduce active risk at its March board meeting.
The plan also recently replaced its domestic mid-cap growth equity manager and is nearing a small-cap value manager hire.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
