Searches And Hires
The selected firm will serve an initial three-year term beginning July 1.
Plan continues working toward executing a transition of assets away from the state fund.
The changes will harmonize the investment grade fixed-income portfolios between the board’s three investment plans.
The contract of the current consultant is set to expire this year.
The new policy will help the plan achieve an expected return of 7.25% over the next 10 years.
The authority is seeking proposals for advisory and administration services for the establishment and administration of a trust relating to its obligations to a union OPEB plan.
The plan removed two hedge fund investments totaling $40.8 million from its portfolio this week.
The plan approved a strategic real estate plan that calls for dropping its core portfolio to 5 managers from 11 over time.
The search is open to core and value-add real estate strategies.
The commitments were recommended in closed session of yesterday’s board meeting.
