Fixed-Income
The fund held a special meeting earlier this month to terminate its long credit mandate with the firm.
The search stemmed from a discussion regarding a possible restructuring of the plan’s opportunistic fixed-income portfolio at a meeting yesterday.
The searches follow a review of the overall asset class this week’s meetings.
The plan is seeking strategies to replace a core-plus mandate with Western Asset Management.
The plan rehired its incumbents after receiving search reports in July.
The plan terminated two in favor of higher conviction managers.
The plan will vote to go back to a former general investment consultant next week.
The plan was notified of a manager termination as well as two redemptions at its Sept. 11 board of investments meeting.
The retirement systems also eliminated global low volatility and TIPS allocations earlier this year.
The plan will consider a replacement search for its $331 million core-plus fixed-income mandate with the firm.