Fixed-Income
The pension plan hired a domestic core fixed-income manager after increasing its target allocation to the asset class in the second quarter.
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.
Investors and allocators approached 2024 with an optimistic outlook, anticipating that inflation had peaked and would continue to reverse course, and they were rewarded as the Federal Reserve cut rates and equity and bond returns ended up firmly in the green. The year ahead, however, leaves investors with questions on how to navigate a market where valuations appear full and few assets appear cheap.
The university has been looking to reduce its exposure to short-term fixed-income.
The deferred compensation plan terminated two domestic equity managers and an intermediate core-plus bond manager in the third quarter.
The county rehired its two domestic fixed-income managers to handle a portion of its operating and sales tax portfolios last month.
The plans hired a new core-plus fixed-income manager in the third quarter.
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.