New York City Employees' Retirement System has chosen mortgage-backed...

New York City Employees’ Retirement System has chosen mortgage-backed securities managers, following a search earlier this year. The $48 billion system hired BlackRock and TCW to manage $1 billion and $300 million, respectively, said Jane Levine, deputy comptroller for pensions, and retained Dresdner RCM Global Investors, PIMCO and Lincoln, each managing $1.1 billion in the same asset class. Partial funding for the new managers came from Miller Anderson, which had managed a $1 billion portfolio; the rest came from rebalancing, Ms. Levine said.