City of Cincinnati Retirement System will hire Shenkman Capital to...

City of Cincinnati Retirement System will hire Shenkman Capital to manage $75 million in high-yield fixed income, pending contract approval. This will be the $2.6 billion defined benefit plan’s first investment in the asset style. The hiring is a result of an asset allocation study conducted last year, said John Walsh, investment officer. Funding will come from the system’s domestic equity portfolio. Mr. Walsh said he expects the new manager to be funded by early April.