Fixed-Income
The fund selected a firm to provide low duration/short-term fixed-income exposure over three other managers following finalist interviews held at its board meeting last month.
The plan is looking to hire three managers to handle a total of more than $1.6 billion.
The interviews follow searches conducted after approval of a new asset allocation mix this year.
The state investment management board is searching for a long-only separate account manager for the asset class.
The pension fund’s 3% portfolio to the asset class is currently held in an index fund.
The plan hired two diverse-owned bond managers to complete a search launched earlier this year.
The retirement system hired two active domestic fixed-income managers and approved a structure for its new private debt portfolio today.
The retirement system will consider hiring two active domestic fixed-income managers and approving a structure for its new private debt portfolio this week.
The plan will interview finalists in November.
The plan selected the managers at a meeting today following RFPs issued in April.