Omaha (Neb.) School Employees’ Retirement System hired Fountain Capital Management to handle a $20 million high-yield fixed-income portfolio. The $900 million plan expects to have the manager funded by May 1, said Michael Smith, executive director.
The hiring comes after an asset-liability study in which the plan decided to raise its high-yield allocation from 5.5% to 8%. The fund’s asset mix was not available.
