The Louisiana Teachers' Retirement System, Baton Rouge, broadened the horizons of its domestic bond managers.
The board of the $7.5 billion fund approved one policy allowing the managers to seek board approval to invest up to 20% of the fund's portfolios in hedged international bonds. The change affects the fund's U.S. bond portfolios, which make up about 19% of its total assets.
Another change allows bond managers to invest up to 10% in A-rated Yankee bonds without board approval, said CIO Jennifer Netterville.
