Non-U.S. & Global Fixed-Income
A Virginia-based pension plan added commitments with new and existing managers in September and made several changes to its fund lineup over the past fiscal year.
The plan terminated two existing managers and added commitments totaling roughly $912 million in October.
The plan will implement its recently approved asset allocation policy in three phases.
Firm lifted out a five-member team to add a dedicated emerging market debt capability.
Plan approved a new asset allocation as continues work toward separating its assets from the state’s division of investment.
The plan hired a new manager after rescinding the selection of its first-choice last month.
The three new strategies provide U.S. investors first-time access to Vontobel’s $25 billion fixed-income boutique.
The plan will hire five emerging managers-of-managers to oversee $1 billion.
Plan is seeking emerging market debt managers to handle an allocation ranging between roughly $700 million and $1.12 billion.
The plan’s investment committee selected one firm in its emerging market debt manager search.