Holyoke (Mass.) Retirement System, with about $110 million in assets, has picked finalists in its search for two new asset classes - high-yield bonds and midcap domestic equities, said Daniel R. Owens, executive director.
The system picked Loomis, Sayles; Salomon Brothers Asset Management; and Putnam Investments as finalists to manage a $7.5 million high-yield bond portfolio.
Boston Co. Asset Management, Invista Capital Management and Trinity Investment Management are finalists to run a $7.5 million core midcap equity portfolio.
The board will pick the new managers on Sept. 16. Funding will come from cash flow and from reducing the portfolio of fixed-income manager Freedom Capital, which runs about $75 million, Mr. Owens said.