Non-U.S. & Global Fixed-Income
The retirement association also terminated an emerging market fixed-income mandate at today’s board meeting.
The retirement system also wrapped up its first fiscal year as an independent entity by outperforming its benchmark by more than 100 basis points.
The plan established a new 3% target to the asset class earlier this year.
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.