Searches And Hires
The contract of the city’s current investment advisor is set to expire.
The city expects to commence a contract on Nov. 1.
The plans placed Wellington Management Company on watch this week due to the upcoming retirement of a partner and equity research analyst.
The plan hired a new domestic large-cap core equity manager to replace its underperforming incumbent.
The plan made a decision in its opportunistic credit search after an RFP process initiated in March.
The fund will hold a first reading of proposed changes to its investment policy statement and strategic asset allocation, including increased allocations to fixed-income and hedge funds, at its June 29 board meeting.
The plan committed to new funds by exiting managers at a meeting last week.
The plan will consider two funds from existing managers.
The city is seeking discretionary investment management services for its OPEB Trust.
Plan will hear presentations from four general investment consultant firms at its meeting next month.