Kern County Employees’ Retirement Association, Bakersfield, Calif., is searching for an active, risk-controlled core fixed-income manager to run $175 million, said David Deutsch, retirement administrator. The $1.55 billion defined benefit plan began the search based on the recommendation of Wilshire, Kern’s consultant. The search has been narrowed down to 11 potential candidates.
Also, the association is paying close attention to $150 million structured equity manager Fidelity. Mr. Deutsch said the association has reason to be concerned about Fidelity’s performance. A representative from Fidelity did not return phone calls for comment by press time.
