Manchester (Conn.) Retirement Allowance Fund is planning to tweak its investment portfolio by broadening the mandates of its fixed-income managers, said Alan Desmarais, director of finance of the $85 million fund.
At the Sept. 16 board meeting, PaineWebber, the fund's consultant, will present proposals for giving the fixed-income managers more flexibility by allowing them to invest a small portion of their assets in international securities, and allowing them to invest in longer duration bonds, Mr. Desmarais said.
The fund has $32 million in fixed income with Smith Affiliated Capital and INVESCO.
