Fixed-Income
The firm appointed a head of fixed-income, Americas to oversee its active fixed-income platform and develop actively managed solutions to meet investor needs.
The plan also named two semifinalists in its general investment consultant search.
The plan hired two firms to fill a new allocation to the asset class.
The plan will seek a replacement for a manager redeemed last month due to organizational concerns and performance reasons.
An anonymous mid-Atlantic Taft-Hartley plan is searching for a core fixed-income manager to handle $20 million.
The search follows discussions on an underperforming incumbent manager.
The plan approved the RFP at its board meeting last week.
The fund is conducting the search due to the Sept. 30 contract expiration of its incumbent manager, which is allowed to rebid.
The plan first hired managers for the asset class in 2015.
The plan replaced its passive TIPS mandate with BlackRock and committed to a new credit manager last month.