Trustees of the $6.1 billion Public School Teachers' Pension and Retirement Fund of Chicago hired three domestic fixed-income managers, confirmed Mike Nehf, assistant executive director.
Miller Anderson & Sherrerd will receive $150 million. Of that, $100 million will come from reducing a fixed-income portfolio managed by Morgan Stanley Asset Management, its sister company; the remainder will come from the fund's new allocation to fixed income.
Trustees also hired Bank of America and Wellington Management to manage yet-to-be-determined amounts, 50% each of the new money allocated to fixed income, he said.
