Fixed-Income
The plan also eliminated its global equity and emerging market debt targets.
The state trust fund has selected a new core-plus fixed-income manager to replace an existing manager following a search initiated last year.
The deferred compensation plan is looking to add a complementary manager to its U.S. bond option.
The retirement system will conduct a search for three fixed-income mandates.
The plan launched a search in September for a restructuring of its opportunistic bond portfolio.
The retirement board wrapped up domestic equity, non-U.S. equity and fixed-income searches at its board meeting this week.
The plan’s investment committee agreed on a recommendation in its domestic core-plus fixed-income manager search.
The authority is seeking services for its $60 million core long-term portfolio.
The pension plan hired a domestic core fixed-income manager after increasing its target allocation to the asset class in the second quarter.
The plans terminated their mandate with domestic core-plus fixed-income manager Western Asset Management and hired a new record keeper in the fourth quarter.