Indiana Public Employees' Retirement Fund, Indianapolis, will search for fixed-income managers in a major overhaul of its fixed-income assets, said E. William Butler, executive director for the $9 billion pension fund.
Indiana will look for core managers, possibly in passive assignments, and possibly some minority managers, Mr. Butler said.
The search will cover about 40% of the fund's portfolio, and all managers' assignments are up for grabs, Mr. Butler said. Existing managers will be allowed to reapply for their spots, he said.
Later in the year, perhaps in the summer, the fund is likely to perform an asset allocation study, he said. The last study is close to three years old and predates voters' 1996 decision to let the fund invest in stocks, Mr. Butler said.