Louisiana Teachers’ Retirement System, Baton Rouge, hired Julius Baer Investment Management and Brandywine Asset Management to run $250 million each in active global fixed income, said Dan Bryant, chief investment officer for the $11.8 billion system.
Funding came from terminating Rogge Global Partners and Strategic Investment Group, which managed $350 million each in active global fixed income, he said. The $200 million balance will be added to investment-grade fixed-income portfolios managed by Peregrine Capital Management, Banc One and EARNEST Partners; Mr. Bryant would not provide further details on those portfolios.
The board made the change because it wanted to reduce global bond risk, and the new strategies are less risky, he said.
