Fixed-Income
The deferred compensation plan terminated its TIPS manager following a diversified inflation strategies search report in November.
The pension plan will review its domestic core fixed-income manager search at an April 26 board meeting and selected a new executive director last month.
The search complies with standard state procurement laws.
The plan is seeking an intermediate fixed-income manager within its stable value fund investment option.
The pension fund approved the staff recommended RFP last week.
The plan is also scheduled to request an emerging markets equity manager search in the coming months.
The plan’s upcoming search will not include its incumbents.
The board has been preparing to conduct the searches as it works toward a new asset allocation approved in 2021.
The retirement system made a change in fixed-income managers in the fourth quarter following a recommendation from its consultant.
The plan had been scheduled to issue the RFP for due diligence purposes.
