Non-U.S. & Global Fixed-Income
The deferred compensation plan reviewed an initial search report at its deferred compensation committee meeting last week.
The retirement system shifted away from non-core fixed-income as part of changes approved at today’s investment committee meeting.
The firm lifted out an emerging market debt team from Western Asset Management.
The retirement system retained its equity manager and let go of its incumbent fixed-income manager.
The pension fund also concluded an emerging market debt manager search with a hire at today’s board meeting.
The pension plan funded one of its separate account mandates for the global equity emerging manager program last month.
The board added an international bond fund option to one of its retirement plans over two other strategies.
The foundation’s revised asset allocation creates a maiden global bond allocation while increasing its targets to domestic fixed-income, real assets and domestic large-cap equity.
The plan’s incumbent managers were first hired in 2016.
The pension fund approved the staff recommended RFP last week.