Indiana State Police Pension Trust, Indianapolis, hired Sit Investment Associates and Reams Asset Management to handle $75 million each in fixed income for the $300 million pension fund. Sit will run a core portfolio benchmarked to the Lehman Aggregate index.
Reams will run a core-plus portfolio that is expected to add additional value through high-yield and non-U.S. allocations; each of those allocations can be 20% of the portfolio, or up to 30% in combination. Funding will come from internally managed fixed income.
Capital Cities assisted.