Passive Fixed-Income
The plan also issued its RFP seeking passive fixed-income managers.
The search follows the termination of its active manager last month.
The plan is seeking a passive global inflation-linked fixed-income manager to handle approximately $850 million.
The authority also hired a total of six new managers within its global equity and fixed-income portfolios as part of an asset allocation policy approved in February.
The plan recently voted to increase its target allocation to diversifying strategies.
The plan is searching for index managers to handle $10.5 billion.
There are no immediate plans to allocate funds to the manager but it will be an option for future use if needed.
The fund approved consolidating its public credit portfolio into a passive U.S. aggregate bond index to improve operational efficiency, reduce fees and reduce active risk at its March board meeting.
The retirement system has hired four global multi-sector fixed-income and three passive equity managers in recent months.
The plan is seeking managers to handle a total of $135 million.
