East Hartford (Conn.) Town Retirement System hired William Blair to manage $20 million in active domestic short-term fixed income, and Allegiance Capital to manage $30 million in active domestic long-term fixed income, said Michael Walsh, director of finance and administrator of the $150 million pension plan. Funding came from a $50 million active domestic fixed-income portfolio run by Aeltus Investment Management, which was terminated for performance. Aeltus will continue to manage $60 million in active domestic core equity for the fund, Mr. Walsh said.
Tracy Sherman, vice president of business strategy and communication at Aeltus, said the firm had no comment.
The current allocation is 60% equity and 40% fixed income. Prudential advised.