Addition of emerging market fixed-income and high-yield bond strategies last month offers participants opportunities for additional yield.
The plan’s incumbent was first hired in 2016.
The plan hired all incumbents in its high-yield fixed-income and general investment consultant searches.
Plan’s decision to move all of its fixed-income assets in-house will reduce its annual fees.
Funding for the new investments will come from the plan’s existing high-yield mandate.
Plan’s passive investment exposure will now be with one manager.
The new semi-liquid multi-sector manager will handle a roughly $250 million mandate for the plan.
The search is open to core, core-plus and high-yield bond managers.
New appointments comes as part of anticipated succession planning.
The new liquid multi-sector manager will handle a roughly $375 million mandate for the plan.