Fixed-Income
The plan is seeking a passive global inflation-linked fixed-income manager to handle approximately $850 million.
The pension plan will conduct an invitation to bid to fill its 25% public real return allocation.
The pension plan terminated its incumbent domestic core-plus fixed-income manager last month due to underperformance.
The searches follow asset class reviews by the plan’s general investment consultant.
The plan will also receive presentations for potential real estate and private credit commitments at its next meeting.
The office has issued an RFP seeking investment management services for two separate externally managed fixed-income pools totaling nearly $600 million.
The plan approved adding a dedicated high-yield component earlier this year.
The plan will also receive an update in its ongoing domestic small-cap core equity and global fixed-income manager searches next week.
The pension plan has replaced its domestic core-plus fixed-income manager due to personnel changes and underperformance.
The fund approved the addition of core fixed-income, international equity and private equity secondaries investments during its board meeting last week and is slated to consider combining two of its ten investment pools later this month.