Public School Teachers Pension and Retirement Fund of Chicago allocated an additional $30 million to existing active domestic bond manager MDL Capital Management, which has had very good performance, said Mary Sharon Reilly, board president. MDL now handles about $50 million for the $10 billion fund. Funding came from existing active domestic bond manager Lincoln Capital Management, leaving it with $476 million.
The fund also may hire a manager to help boost its current international equity allocation to 12.5% from 10% of total assets; they will discuss the possibility at the Sept. 19 board meeting. Existing active international equity managers Morgan Stanley and Scudder Kemper, which handle $452 million and $390 million, respectively, were interviewed, as well as Lazard Freres, Fidelity and Capital Guardian.