Indiana Public Employees Retirement Fund, Indianapolis, is conducting an asset-liability study, which will be followed by an asset allocation review.
The $10 billion defined benefit plan just completed an overhaul of its domestic fixed-income portfolio by hiring six new managers.
Northern Trust Global Investments and Lincoln Capital Management were hired to manage $1.8 billion and $600 million, respectively, in a passive strategy, said William Butler, executive director of the $10 billion defined benefit plan. The fund also hired four new active managers: BlackRock; Western Asset; Seix Investment Advisors; and Utendahl Capital Management. The amounts of these mandates were not available at press time. There may be more manager changes.