Florida State Board of Administration trustees today hired three investment managers for the state’s new defined contribution plan, expected to be launched next year.
BlackRock will manage an enhanced bond index investment option; Western Asset Management and Deutsche Asset Management, a jointly managed core-plus bond option; and W.R. Huff and MacKay-Shields, a jointly managed domestic high-yield bond option.
The Tallahassee, Fla.-based board also hired Morgan Stanley as the asset transition broker.
