Fixed-Income
Three firms will vie for the plan’s new high-yield fixed-income mandate.
The plan last retained its general investment consultant in 2017 and has worked with its incumbent record keeper for 10 years.
The plan will add three value managers to its international equity portfolio.
The plan will consider swapping one target-date fund manager for Vanguard Group to cut costs.
He will implement investment strategy and oversee portfolio construction and trading.
The plan also slated domestic small-cap growth equity manager finalist interviews for its September meeting.
He assumed co-management of four new funds effective July 14.
The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
The $30 million transaction is expected to close in the third quarter.
The city hired two firms to replace a previously terminated core fixed-income manager.
