Sacramento County Employees Retirement System, Sacramento, Calif., selected Metropolitan West, PIMCO and Western Asset Management as finalists in its search for a core-plus fixed-income manager to run $200 million, said Jeff States, CIO for the $3.5 billion plan. Partial funding will come from reducing a Lincoln Capital Lehman Aggregate Bond index fund by $150 million, leaving it with $330 million; the rest will come from cash, he said.
The portfolio is being added to complement a $300 million active domestic fixed-income portfolio managed by Bradford & Marzec, said Mr. States. The board plans to make a selection at its Sept. 20 meeting.
Mercer Investment is assisting.