Fixed-Income
The plan will interview two fixed-income managers early next year amid a potential portfolio restructuring.
A trust fund based in a Western state terminated one of its core-plus fixed-income managers during a recent meeting.
The plan has made several changes to its portfolio in recent months.
The asset classes were recommended by the OPEB trust’s new general investment consultant.
The plan added a new fixed-income manager to its investment lineup during the second quarter.
The retirement system will also launch a search for private credit managers next year.
The plan will replace its core-plus and global opportunistic bond managers.
The plan instructed its consultant to prepare an analysis of alternative firms to its incumbent core-plus bond manager.
The deferred compensation plan will conduct a search to add a complementary manager to its U.S. bond option.
The retirement association will look to fill new targets to non-core infrastructure and TIPS in the first half of 2025.