Public School Retirement System of Missouri, Jefferson City, hired Payden & Rygel to run a $1.5 billion enhanced fixed-income portfolio. Payden & Rygel can manage up to 10% of the portfolio in high-yield bonds; 10% foreign bonds; and 45% in mortgage-backed securities. Sovran Capital had managed the portfolio in intermediate domestic bonds. The assets then were moved to Agincourt Capital, a firm launched by the former investment team at Sovran. Shortly after the switch, Agincourt was terminated and a search for an enhanced bond manager began. NISA managed the portfolio in the interim, said Craig Husting, chief investment officer for the $21.8 billion pension fund. Strategic Investment Solutions assisted.