Fixed-Income
The plans have replaced their domestic core-plus fixed-income manager, which had been on watch since the second quarter of 2023.
The hire will save the plan over $1 million in fees annually.
The pension trust hired two new core-plus fixed-income managers at its meeting yesterday.
The plan interviewed a total of four finalists for the mandate in March.
The plan received a report from its consultant after launching the search in February.
The university recently selected a new core bond manager to replace a recently terminated manager within its quasi-endowment.
The plan is looking to invest $100 million in a liquid credit strategy.
The search is related to services for its $1.1 billion in operating and bond funds.
The city’s police and fire and general retirement systems will interview three fixed-income managers at next week’s joint board meeting.
The organization is seeking an advisor with a history, especially with fixed-income securities, to provide investment and depository services.