Fixed-Income
The district issued an RFP in November seeking a manager for its bond proceeds.
The new manager replaces the plan’s mandate with Western Asset Management.
The plan is seeking a manager to handle a $6 million mandate.
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 plan’s board voted today to replace the incumbent with a comparable provider.
The search is required by standard state procurement laws.
The plan’s current manager was first hired in 2017.
The retirement system hired Dimensional Fund Advisors to handle international value and domestic small-cap value equity mandates last quarter.