Home » Fixed-Income

Fixed-Income

FCERA Terminates Artisan, Wraps TIPS Search

November 7, 2008 - The Fresno County Employees' Retirement Association (FCERA) has terminated small-cap equity manager Artisan Partners, said Roberto Pena, administrator of the $2.7 billion California plan. Artisan had been in trouble with the plan for quite some time due to poor performance and personnel changes and had been on FCERA's watch list since the beginning of the year (See IMW, 11/19/07 and 9/15/08). The manager oversaw a roughly $55 million mandate. The board first discussed terminating the firm at…

Maryland Worker’s Comp Fund to Add Emerging Managers

November 4, 2008 - The Injured Workers Insurance Fund (IWIF) is searching for emerging investment managers. The IWIF covers worker's compensation for the state of Maryland. Robert Merritt, executive VP and CIO at the $1.6 billion fund, explained that the search is being conducted because the IWIF is interested in working with emerging managers based in Maryland. He noted that a second RFP for emerging management firms based outside of Maryland would be issued at a later time. The fund…

El-Erian Named Sole Pimco CEO

September 5, 2008 - Mohamed El-Erian, who recently returned to Newport Beach-based Pimco after running a multi-billion dollar endowment fund at Harvard University for two years, will take over as the sole chief executive of the bond investor. Prior to this appointment, El-Erian shared the top spot as co-CEO with Bill Thompson, who announced his retirement from the firm after 15 years yesterday. El-Erian will continue to serve as co-chief investment officer along with renowned bond investor Bill Gross. El-Erian…

Arkansas Cops Unload Equity Manager

August 18, 2008 - The roughly $215 million Arkansas Police Retirement System has reportedly removed UBS Asset Management from an international equity portfolio. According to published reports, the fund saw its foreign stock portfolio dip from $50.2 million to $41.7 million during the last fiscal year. Gail Stone, executive director at the Little Rock plan, could not be reached for additional details by press time. However, local reports indicate that the system will meet with potential replacement managers at its November…

Fresno County Adopts New A/A

August 11, 2008 - The Fresno County Employees' Retirement Association (FCERA) has adopted a new asset mix which includes allocations to opportunistic fixed-income, hedge funds and real assets, said Roberto Pena, administrator at the $2.7 billion fund. The changes are due to the results of a recently completed asset/liability study conducted by Wurts & Associates. …

City of Knoxville Creates New Allocations

June 18, 2008 - 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

May 23, 2008 - 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

February 29, 2008 - 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

February 25, 2008 - The Oklahoma Police Pension & Retirement System (OPPRS) has retained Loomis, Sayles, & Company for a roughly $70 million mandate...

Fairfax Fund Could Change Asset Allocation

June 6, 2007 - The $2 billion Educational Employees' Supplementary Retirement System of Fairfax County (ERFC) could revamp its asset allocation in the fall...

Fred Alger on Hot Seat at LA Utility

December 4, 2006 - The Los Angeles Water and Power Retirement Plan could soon place Fred Alger Management on watch...

Illinois Teachers' Preps Equity Search

November 3, 2006 - The $36.5 billion Teachers' Retirement System (TRS) of Illinois will launch a search for an international equity manager

Illinois TRS Hires and Fires

August 2, 2006 - The board of the $36.8 billion Teachers' Retirement System of the State of Illinois (TRS) approved numerous actions at its Aug. 2 meeting...

Ohio Workers' Comp Adopts New Asset Allocation

July 21, 2006 - The Ohio Bureau of Workers' Compensation (BWC) has approved a revised asset allocation that would allow equity investments...

LA Water & Power Watches EARNEST

June 20, 2006 - The $6 billion Los Angeles Water and Power Employees' Retirement Plan is expected to place EARNEST Partners on watch at the plan's upcoming June 21 meeting.