Non-U.S. & Global Fixed-Income
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.
The plan will hire multi-asset credit managers as part of the new structure and commit $170 million total to real estate in fiscal year 2023.
Plan is seeking private debt managers to each handle an up to $100 million mandate and approved new asset allocation policies last week.
Program is seeking up to two firms to handle four investment options.
Plan approved a new asset allocation policy that addresses the current marketplace.
Plan’s decision to move all of its fixed-income assets in-house will reduce its annual fees.