Fixed-Income
The board hired an intermediate manager to replace a short-term bond mandate.
The retirement system also approved a search for a multi-asset credit manager at the end of August.
The trust is seeking fixed-income investment advisory services for the management of its restricted and reserve funds.
The pool is seeking the services across two bond investment mandates.
The retirement system appears to be considering alternatives for an underperforming incumbent.
The retirement system rehired its incumbent following a similar search in 2018.
The foundation added fixed-income strategies with a new investment manager within its portfolio in the first quarter.
The firm is expanding its global credit team, which includes more than 40 portfolio managers and analysts, with appointments in London, New York and Rotterdam.
City is seeking a pool of investment managers for its accounts that have an aggregate market value of approximately $6.8 billion.
The plan tapped public market credit consultant Mercer earlier this year to conduct the searches.