Fixed-Income Asset Class

News

City of Knoxville Creates New Allocations

The $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within…

Illinois TRS Expands Emerging Manager Program

The Teachers' Retirement System of the State of Illinois (TRS) will be expanding its $500 million emerging manager program, said Eva Goltermann, spokeswoman for the $38.7 billion plan. The program, which had earlier encompassed only the public market asset classes, will now also include investments in private equity, real estate and absolute return. Goltermann noted that up to 10% of the program could go into private equity investments. 'TRS staff will take the lead in identifying…

Robeco to Exit Bond Business

The asset management arm of the Robeco Group—Robeco Investment Management (RIM)--has announced that it is exiting the U.S. fixed-income business...

Oklahoma Cops Pick Loomis

The Oklahoma Police Pension & Retirement System (OPPRS) has retained Loomis, Sayles, & Company for a roughly $70 million mandate...

Fairfax Fund Could Change Asset Allocation

The $2 billion Educational Employees' Supplementary Retirement System of Fairfax County (ERFC) could revamp its asset allocation in the fall...

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Articles

Abbott Picked By Baltimore Employee Plan

Private equity manager Abbott Capital Management has been hired by the $1.4 billion Baltimore Employees' Retirement System. The firm will receive a $40 million commitment to be invested in the Abbott Capital Private Equity Fund VI. An agenda for a June 18 City of Baltimore board of estimates meeting states that the plan has previously invested in two funds with the manager.

Knoxville Creates New Allocations

As first reported on imweekly.com (6/18/08), the $540 million City of Knoxville Pension Board will meet with consultant Dan Holmes of Summit Strategies next month to discuss ways to implement recently approved allocations, said Mike Cherry, executive director at the fund. Following the results of an asset/liability study, the plan decided to carve out allocations of 11% to portable alpha, 5.5% each to emerging markets equity and international small-cap equity and 5% each to private energy and private equity, Cherry said. Within fixed-income, the fund will allocate 10% to absolute return strategies and 5% to core-plus bonds.

Gotham City Plans Hunt for Bond Firms

The City of New York Office of the Comptroller has issued an RFP for U.S. fixed-income managers on behalf of the New York City Retirement Systems (NYCRS)which covers the employees', teachers', police, fire and board of education plans. The search is being conducted because the system's sector-specific fixed-income manager contracts will expire June 30, 2009, the RFP indicates. This search will be used to select the next round of managers in the asset class in the following sub-sectors: U.S. government, investment grade credit and mortgage-backed pass-throughs. Each mandate is expected to be between $20 million and $2 billion. The systems plan to hire managers for a three-year term, with the option to renew for a further six years.

W.V. Board Hits The Market for Bond Firms

The West Virginia Board of Treasury Investments (BTI) has launched a search for a short-duration fixed-income manager. The BTI oversees the assets of the state's $3.6 billion consolidated pool.

Searches in Store at Ohio BWC

The board of the $16 billion Ohio Bureau of Workers' Compensation (BWC) has approved nearly $7 billion in searches for U.S. equity and fixed-income managers, said Bruce Dunn, CIO at the fund. However, the timetable for when those RFPs will actually hit the market has yet to be finalized.

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