Non-U.S. & Global Fixed-Income
The pension plan is seeking passive index and transition advisory services as it readies a long-awaited transition out of a larger fund.
The plan replaced both its passive equity and fixed-income mandates with Vanguard Group after receiving an annual share class review in February.
The plan hired five multi-asset credit managers today as part of its previously approved return-seeking fixed-income structure.
The plan expects to issue the RFP later this month and make a selection in the third quarter.
The plan will consider hiring five multi-asset credit managers and terminating five existing managers.
The new structure introduces a target to short-duration fixed-income and eliminates the plan’s passive core fixed-income target.
The plan terminated an emerging market debt firm as well as an emerging markets equity relationship within its emerging manager program last month.
Plan’s investment committee will recommend terminations of an emerging market debt and an emerging markets equity manager at next week’s board meeting.
The plan increased its private credit target and added a commitment within the non-core fixed-income portfolio yesterday.