Public Employees Retirement System of Nevada, Carson City, selected Lincoln Capital Management to manage a new $400 million Lehman Aggregate Bond index portfolio. Funding came from cash.
It also selected finalists in its search for a $250 million large-cap value index manager. Finalists selected by the $13.2 billion fund are: Alliance Capital; Axe-Houghton; Barclays Global Investors; and Merrill Lynch. The fund does not have a large-cap value index manager, said Laura Wallace, the funds chief investment officer.